Hindsight: Closing the year 2013-14 we expect a good growth in revenue compared to past years, since output has perhaps peaked in this year, because of executing many domestic and international projects.
FlashNews:
India’s Ports Surge in Efficiency, Investment: Union Minister Sonowal
Air India Completes DGCA-Mandated Fuel Switch Inspections on Boeing Fleet
Genesys First in India to Link DIGIPIN with 2D and 3D Maps for Digital Address Infrastructure
India’s Rajya Sabha Passes Bills of Lading, 2025: A Landmark Maritime Reform
Rail Car Inspections Begin on Vaitarna-Kharbo Stretch; Western DFC Nears Completion
DEL Vibes: Immersive Cultural Showcase Launched at Delhi International Airport
CS TECH Ai Named PMC for ₹58.1 Million Sewage Revamp in Nashik
India’s ₹35 Trillion Energy Push Hinges on States, Says Puri at Urja Varta
Lending Versatility to Modern Infrastructure with Coated Steel
India Post to Grow Revenue by 30% in FY26 under Scindia’s Vision for Performance-Driven Public Service
Solar Now Far Cheaper Than Conventional Energy as Tariffs Fall: Joshi
India Surpasses Clean Energy Goal with 50% of Grid Now Powered by Non-Fossil Sources
Mumbai-Ahmedabad Bullet Train to Launch with Japan’s Next-Gen Shinkansen Technology
From Trade to Tourism, Sonowal Envisions a New Global Role for BIMSTEC
Railways to Begin Massive CCTV Rollout Across Trains to Boost Onboard Security
Ceinsys Tech Wins ₹1.15 Billion MMRDA Contract for Real-Time Infrastructure Monitoring Platform
Siemens Secures ₹7.73 Billion Contract for Nagpur Metro’s Advanced Signalling and Telecom Systems
DFCCIL Launches India’s First Private Gati Shakti Cargo Terminal on Western Freight Corridor
India Clears Elon Musk’s Starlink for Satellite Internet Rollout
Net profit of OIL India declines 34.5% in June quarter
During April-June 2013, the net profit of Oil India (OIL) declined 34.5 percent to Rs 609.08 crore or Rs 10.13 per share compared to Rs 929.93 crore, or Rs 15.47 per share in the year-ago period. Net profit of the firm declined during the quarter because net realisation fell to $45.88 per barrel from $53.78 in first quarter last
CCEA to consider OVL, OIL proposal
The proposal by ONGC Videsh (OVL) and Oil India (OIL) to pick up Videocon Mauritius EnergyÂ’s 10 percent stake in MozambiqueÂ’s Rovuma 1 block is awaiting the approval of the union cabinet. The petroleum ministry moved a note before the cabinet committee on economic affairs for approval. The acquisition would be completed soon, oil minister M Veer
OIL produced 3.7 mn t of crude oil in FY13
State-run oil and gas explorer Oil India (OIL) could produce only 3.701 million tonne of crude oil during 2012-13 compared to 3.884 million tonne in 2011-12 because of hostile work environment in Assam. The company was targeted to explore 3.95 million tonne in 2012-13, but it could not and the figure was this year's target. OIL posted a gross income of Rs 11,456.32 crore
OIL plans Rs 120 bn investment in North East till FY17
Sunil Kumar Srivastava, Chairman and MD of Oil India (OIL) informed reporters that the firm earmarked Rs 12,000 crore investment for its projects in North East out of the Rs 19,000 crore capital expenditure planned in the 12th Five-Year Plan. The company planned to invest Rs 19,000 crore on expansion of exploration work and diversification of business during 2012-
OVL, OIL enter into pact for Mozambique asset
Through a communication to stock exchange, Oil & Natural Gas Corporation informed that its overseas subsidiary OVL and Oil India (OIL) entered into a definitive agreement to acquire interest in the Rovuma Area 1 Offshore Block in Mozambique
OVL JV to acquire 10 per cent stake in Mozambique field
A joint venture (JV) company of ONGC Videsh (OVL) and Oil India (OIL) decided to acquire 10 per cent stake of Videocon Mauritius Energy in Videocon Mozambique Rovuma 1 gas field for $2.475 billion.
OIL to set up subsidiary for foreign operations
In the next few months, state-run energy explorer Oil India (OIL) may set up a foreign arm for exploration and acquisition of hydrocarbon assets abroad, thereby becoming the third state-run oil company to have a dedicated subsidiary for foreign operations. OIL now has presence in countries like Sudan, Libya, Venezuela, Egypt, Timor Leste, Yemen, Nigeria, Iran, the US and Gabon. In Gabon and Libya, it is the main operator of its blocks
APL in the process of delisting its shares
Loss-making Assam Petrochemicals (APL) is in the process of de-listing the company from the Bombay Stock Exchange (BSE) amidst the proposal of Oil India to buy stake in the firm. State-run OIL is in talks with Assam government, which is holding 88.2 per cent stake in APL, for buying 49 per cent equity in the company. Domestic institutions and others hold the remaining stake in
OIL hopes to form overseas arm by year end
By the end of 2013, public sector oil and gas exploration company Oil India (OIL) plans to form an overseas subsidiary for operating its foreign assets. It is learnt that OIL wants to set up an overseas subsidiary on the lines of ONGC Videsh (OVL), which is the foreign unit of state-run energy explorer ONGC