Reports suggest that the government may restart the process of divesting its stake in Indian Oil Corporation following the considerable rise in the share price of oil companies in recent trading sessions. In 2010, the government deferred its plan to offload 10 percent (of its 78.92 percent) stake in Indian Oil because of poor market condition
Tag: Oil India
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OIL in the process of drilling wells in KG basin
Reports suggest that by the middle of 2013, Oil India (OIL) may start work on drilling wells in the KG Basin. OIL is said to be in advance stage of mobilising the rigs to the exploration site and the work is expected to by June-end or early July 2013. As part of its plan, the firm would drill three shallow wells and three deep water wells at a total cost of aro
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OVL produces oil from Carabobo field
In a move that may increase crude oil production of ONGC, the state-owned oil explorer's overseas arm ONGC Videsh (OVL) began production from its Carabobo oilfield in Venezuela oil-rich Orinoco Belt. The asset is operated by a joint venture firm Petrocarabobo, set up in Venezuela in June 2010 in which OVL has 11 percent stake. Oil India and Indian Oil Corp
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Govt plans to offload stake in Oil India in mid January
During the middle of January, government plans to launch the divestment of its 10 per cent stake in Oil India. The government plans to mop up around Rs 2,700 crore by offloading its 10 per cent stake in the firm at the p
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Contract opportunities in OIL India
Oil India (OIL) is a premier state-run company under the administrative control of Ministry of Petroleum and Natural Gas in the central government. The company is engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. For the quarter ending September 30, 2012, the company's net profit declined 16 per cent to Rs 954.57 crore from the year-ago period.
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Govt to offload stake in NMDC, OIL, NTPC
Reports suggest that government may offload its 10 percent stake in National Mineral Development Corporation (NMDC) before December 15.The NMDC issue may be followed by Oil India (OIL) and then National Thermal Power Corporation (NTPC), reports suggest. Besides, government also plans to offload some of its st
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Oil India appoints consultant for 2.5 mn t LNG project
According to company sources, Oil India (OIL) has appointed a consultant to prepare report on its proposed
2.5-million tonne (mn t) liquefied natural gas (LNG) receiving terminal in the country. Geneva-based Foster Wheeler AG is said to be the firm that bagged the consultancy contract for the project, which marks OIL's foray into imported gas. With the proposed LNG terminal, the company will join
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Govt may offload 10% stake in Oil India by Jan 15
The 10 percent stake sale in Oil India, through which the government aims to garner Rs 2,500 crore, may be completed by January 15, reports suggest.
It is learnt that there is consensus between finance and oil ministries on the stake sale date. The oil ministry had earlier expressed reservations over bringing issues of oil sector companies "in a hurry", saying at least two offers for s
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OIL eyes stake in RGTIL
Oil India (OIL) is in talks to buy 51 per cent in Reliance Gas Transportation Infrastructure (RGTIL).
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OIL eyes stake in RGTIL
Oil India (OIL) is in talks to buy 51 per cent in Reliance Gas Transportation Infrastructure (RGTIL).