Oil India

  • India seeks to pay Iran oil bill fully in rupees September 12, 2013

    Keen to reduce a record current- account deficit by raising oil imports from Iran, India is seeking to restart the mechanism of paying the Persian Gulf nation entirely in rupees. Iran had in July agreed to take payments for oil it sells to India entirely in rupees after US and western...
  • India raises $585 million from Oil India share sale February 2, 2013

    Mumbai: India raised $585 million through a share sale in state explorer Oil India on Friday, an encouraging sign for the government's efforts to divest stakes in other state firms to bridge its fiscal deficit. The government had offered 60.11 million shares, or 10 per cent of the company's stock and...
  • Stake sale target seen on track; Oil India next December 18, 2012

    New Delhi: India is looking at new ways to attract investors to sales of shares in state-run industries and large offerings in Oil India and power company NTPC are set to come in the next few weeks, a top finance ministry official said. Selling equity in large public industries is a...
  • Government approves divestment in 4 PSUs September 14, 2012

    New Delhi: In a major decision signalling reforms, the government on Friday approved divestment in four PSUs. Below is the list of the companies: Divestment of 9.59 per cent in Hind Copper Divestment of 10 per cent in Oil India Divestment 12.5 per cent in Nalco Divestment of 9.33 per cent in MMTC through Offer...
  • Assam: Fire in Oil India oil well in Tinsukia September 1, 2012

    Tinsukia/Dibrugarh: A fire broke out in an oil well of Oil India Ltd in upper Assam's Tinsukia district early this morning. No injury or casualty has been reported so far. OIL spokesman Jishnu Sarma said the fire in a cruse oil well at Chandmari village was reported around 1 am....
  • Oil India eyes stakes in overseas assets May 29, 2012

    New Delhi: State-run Oil India is looking to buy stakes in US gas driller Chesapeake Energy Corp.'s Mississippi Lime basin and ConocoPhillips' oil sand assets in Canada, its head of finance said on Monday. The cash-rich Indian explorer, whose assets in India's north-east account for its entire crude oil production and...
  • ONGC auction through; BHEL divestment on hold March 2, 2012

    New Delhi: The whole ONGC auction confusion has taken its toll on the government's disinvestment plan as this was being seen a test case for more such deals. As a result the divestment of Oil India and heavy engineering goods firm BHEL have been put on hold. Heavy Industries and...
  • Govt clears Cairn, Vedanta deal with conditions July 1, 2011

    New Delhi: The government said it granted Vedanta Resources conditional approval on Thursday to buy a stake in British oil explorer Cairn Energy's Indian business, in a deal valued at around $ 6 billion. Cairn Energy agreed last week to sell a 40 per cent stake in Cairn India to Vedanta....
  • 'Indian firms can bid for Cairn India stake' August 24, 2010

    New Delhi: All options are open for Indian state energy firms to make a bid to counter London-based Vedanta Resources' proposed offer to buy a majority stake in Cairn India, an oil ministry source said. The oil ministry made the statement after a media report said ONGC, GAIL and Oil India...
  • Govt to divest stake in 3 firms; sell Oil India IPO July 17, 2009

    New Delhi: The Government has identified three public sector units (PSUs) for disinvestments and plans an IPO for its leading fuel company, Oil India. Sources tell Network18 the government will sell its stake in Karnataka-based Kudremukh Iron Ore, Maharastra-based Manganese Ore and Hyderabad-based National Mining Development Corporation (NMDC). Sources says the...
  • Federation Cup: Vasco SC edge past Oil India December 17, 2008

    New Delhi: Goan giants Vasco Sports Club edged past underdogs Oil India 1-0 in Group D of the Federation Cup on Tuesday at the Barasat Stadium. The first half was a mixed affair with neither side being able to assert themselves emphatically over the other. It were the underdogs Oil India who...
  • Federation Cup: Bagan's unbeaten run comes to an end December 16, 2008

    New Delhi: Group D of the Federation Cup has been sent wide open with Vasco halting Mohun Bagan’s seven match unbeaten run coming into this game with a fine 1-0 victory at the Barasat Stadium, Kolkata. Air India, who drew earlier in the day against Oil India, top the group with...
  • Federation Cup: Baretto's double wins it for Bagan December 13, 2008

    New Delhi: The experience and class of Mohun Bagan won them their 30th Federation Cup Group D opener against a youthful Oil India, who gave a good account of themselves at the Barasat Stadium, Kolkata. Second half substitutions and their brilliance in set pieces were the key factors for Mohun Bagan...
  • Govt clears Oil India Ltd's IPO, divestment August 30, 2007

    New Delhi: The Centre on Thursday approved the initial public offer (IPO) along with sale of government equity in public sector explorer Oil India Ltd. “The Cabinet Committee of Economic Affairs cleared the IPO of 10 per cent fresh equity as well as sale of 10 per cent of the...
  • Blast in OIL pipeline in Assam December 27, 2006

    New Delhi: Nearly 100 people were evacuated to safer places when a blast took place in an Oil India Limited (OIL) pipeline resulting in oil spill in Upper Assam's Golaghat district on Tuesday night. According to OIL officials the occurred due to a "technical snag". The resulting oil spill has spread over...
  • OIL suspends Brahmaputra basin survey December 21, 2006

    New Delhi: Oil India Limited (OIL), after a meeting with All Assam Students Union (AASU), has put on hold its proposed seismic survey of the Brahmaputra basin. Decision to stop the survey, till experts give their opinion on its effects on the river's eco-system, was taken at a meeting in Guwahati...