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Oil India News

01 May 2024

Govt Cuts Windfall Tax On Crude Oil, ONGC, OIL India Ltd To Gain

Upstream oil exploration and production companies ONGC and Oil India Ltd stand to gain as they will have to pay a lower tax on their crude.

Oil India recruitment

20 Sep 2021

Oil India Limited Recruitment 2021: One day left to apply for various posts

The company has announced vacancies for Assistant Technician and Junior Engineer positions. The interested and eligible applicants can apply through the official website- oil-india.com.

Oil India recruitment

16 Sep 2021

OIL Recruitment: Apply for Grade C, Grade B, Grade A officer posts, deets here

The last date to submit the application forms is October 10. Students will be selected on the basis of computer-based test, group discussion or group task and personal interview.

Oil India recruitment

07 May 2021

Oil India Recruitment 2021: Apply for 119 Assistant Mechanic posts

The pass marks of the Walk-in-Practical/Skill Test cum Personal Assessments will be minimum 50 per cent.

11 Jun 2020

Fire in Assam gas well periphery doused; area up to 1.5 km radius declared 're

The blaze at the well is so massive that it can be seen from a distance of more than 30 kms with thick black smoke rising several metres high, endangering the local biodiversity in the Dibru-Saikhowa National Park following the blowout on May 27.

28 Feb 2017

Govt bails out ONGC, OIL of Rs 22,000 cr royalty liability

The central government will pay two state-owned firms' outstanding liabilities of Rs 14,698 crore directly to the state governments, who will not insist on levy of Rs 7,223 crore interest on payments that were due from April 2008.

28 Sep 2016

Cabinet clears IOC-OIL-BPCL's Russian stake buy for $3.14 bn

The Cabinet on Wednesday gave its nod to a consortium of IOC, Oil India and BPCL buying stakes in two Russian oilfields for a total of USD 3.14 billion.

ONGC royalty burden

22 Jul 2016

ONGC saddled with Rs 392 cr additional royalty, Rs 1,100 cr burden on Oil India

ONGC will have to shell out Rs 392 crore and Oil India Ltd over Rs 1,100 crore after the government ordered them to pay royalty at gross crude oil price and not the net rate they actually realise.

Oil producing states

18 Jul 2016

Oil PSUs to pay royalty on gross price to producing states

In a bonanza to oil producing states like Assam, the government has ordered state-owned ONGC and Oil India to pay royalty to them on the gross price for crude oil and not the net rate they actually realise.

21 Sep 2015

Oil companies seek cut in cess on crude

State-owned oil producers ONGC and Oil India as well as private sector Cairn India have asked the government to cut cess on crude oil they have to pay in view of slump in prices.

11 Sep 2015

Oil India gets green nod to produce 1 mmscmd gas in Jaisalmer

State-run Oil India Ltd has got environment clearance for drilling 20 wells in three blocks in Jaisalmer, Rajasthan for production of 1 mmscmd gas at an estimated cost of Rs 96 crore.

Oil exploration companies

02 Sep 2015

Oil exploration cos in huge demand; shares rally up to 20%

Shares of oil exploration companies were in huge demand Wednesday, surging up to 20 percent, as the government decided to auction 69 idle oil and gas fields of state-owned ONGC and Oil India to private firms on a new revenue sharing model and liberalised terms.

03 Sep 2015

Govt to auction 69 oil & gas fields; Rs 70,000 crore to be monetised

In a 'paradigm' shift, government will auction 69 idle oil and gas fields of state-owned ONGC and Oil India to private firms on a new revenue sharing model and liberalised terms including pricing and marketing freedom.

Government auction

02 Sep 2015

Govt to auction 69 oil and gas fields of ONGC, OIL worth Rs 70,000 crore

The fields hold 89 million tonne of oil and gas resources which are worth Rs 70,000 crore at current prices.

30 May 2015

Oil India reports marginal dip in Q4 profit to Rs 565.62 cr

State-owned Oil India Ltd on Saturday said March quarter net profit has dropped marginally to Rs 551.72 crore from Rs 565.62 crore in the same period a year ago.

08 May 2015

Govt needs to reduce oil companies' burden over low margins: Fitch

Lower oil prices have reduced net margins of two state-owned upstream companies, Oil India Ltd and ONGC Ltd and the government needs to reduce the burden on them, credit rating agency Fitch said Friday.

21 Apr 2015

India to auction 69 marginal fields owned by ONGC, Oil India: Official

"Marginal field policy will have approval soon for 69 fields which ONGC and Oil India have agreed to give. We hope to put them for bidding," Saurabh Chandra told reporters in New Delhi.

17 Apr 2015

Oil India commissions 54 MW wind energy project

The project cost Rs 439 crore -- Rs 126.5 crore for the Gujarat side and Rs 312.45 crore for the Madhya Pradesh location.

27 Mar 2015

Govt may exempt ONGC, OIL from payment of fuel subsidy in Q4

The government regulates price of cooking fuels -- LPG and kerosene -- to shield the poor.

27 Mar 2015

India may exempt ONGC, Oil India from paying subsidy in March-quarter

India regulates retail prices of liquefied petroleum gas and kerosene to keep prices under check.

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