For the financial year 2012-13, the central government received a dividend of Rs 518.65 crore from state-run exploration firm Oil India (OIL). Minister for Petroleum and Natural Gas M Veerappa Moily received the cheque from SK Srivastava, Chairman and Managing Director of OIL towards interim dividend at 110 percent for the financial year, the company said in a state
Tag: Oil India
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Revenue share contracts may raise risk for explorers
Deepak Mahurkar, leader, oil and gas, PricewaterhouseCoopers opined that a move towards revenue-sharing mechanism in exploration contracts exposes investors to more risks of investments, and that may dissuade large oil companies from India. It may be noted that the union Finance Minister P Chidambaram announced in his budget speech that a new
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Realisation from crude oil may improve for Oil India
Goldman Sachs recently released outlook for the stocks of some of the companies in the oil and gas sector. The brokerage expects improved outlook for the scrip of Oil India owing to fuel price increases and potential gas price hike. Goldman Sachs expects Oil India's net crude realization to improve from $54 in current fiscal to $58.2 per barrel in 2014
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Realisation from crude oil may improve for Oil India
Goldman Sachs recently released outlook for the stocks of some of the companies in the oil and gas sector. The brokerage expects improved outlook for the scrip of Oil India owing to fuel price increases and potential gas price hike. Goldman Sachs expects Oil India's net crude realization to improve from $54 in current fiscal to $58.2 per barrel in 2014
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Joint venture of OIL, OVL to bid for Videocon’s stake
A joint venture of Oil India (OIL) and ONGC Videsh (OVL) is in race for the 10 per cent stake of Videocon Energy Ventures in MozambiqueĂâs Rovuma gas basin. The joint venture firm would compete with energy firms like ExxonMobil, PTT Exploration and Production Public Company, Shell, BP, and China's Sinopec for the stak
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Ministers study draft note on gas pricing
Union Oil Minister M Veerappa Moily informed that the draft note on raising the price of natural gas is under circulation before all the ministries. He also said that his ministry would send the proposal to the cabinet after the consultation of various ministries. The draft note proposes to raise the price of gas produced by state-owned ONGC and OIL from 2013 itself and that for Reliance Industries in 2014
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Ministers study draft note on gas pricing
Union Oil Minister M Veerappa Moily informed that the draft note on raising the price of natural gas is under circulation before all the ministries. He also said that his ministry would send the proposal to the cabinet after the consultation of various ministries. The draft note proposes to raise the price of gas produced by state-owned ONGC and OIL from 2013 itself and that for Reliance Industries in 2014
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Govt receives strong response for OIL share offer
Data from the National Stock Exchange (NSE) shows that the government received strong response for its disinvestment in Oil India (OIL) through offer for sale (OFS). According to the data, the government received bids for more than twice the offer size, at an average price of Rs 517.99 a share. The government aimed to raise around Rs 3,100 crore by selling 60.1 million shares of the firm at a floor price of Rs 5
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Disinvestment secy expects Rs 270 bn from stake sale in FY13
Union Disinvestment Secretary Ravi Mathur informed reporters that the government may manage to mop up Rs 27,000 crore by offloading stakes in state-run firms in 2012-13. It may be recalled that the central government earlier set a target to raise Rs 30,000 crore through disinv
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EIL to upgrade Oil India’s pipeline
Oil India awarded the Engineering, Procurement and Construction Management (EPCM) contract to Engineers India (EIL) for upgrading pump stations or terminal of the Naharkatiya-Barauni crude oil pipeline. Oil India decided to upgrade the pumping stations or terminals to reduce operation and maintenance cost and increase the throughput of the system for acc