Page 12 - Oil India

Govt cuts domestic natural gas price by 26% for first half of FY21

The rate for gas produced from difficult fields will be $5.61 mBtu on gross calorific value basis.

ONGC, Oil India stare at steep earnings cut as crude price crashes

Covid-19 onslaught on crude oil prices to impact profitability of the two oil producers severely; analysts cut ONGC's FY21 earning estimate by 70 per cent

India's oil production in February dips 6.4% on lower private sector output

ONGC reported a 4.64% rise in production at 1.67 million tonnes as output from its offshore fields saw a pick-up

Oil price crash could help India's economy but will hurt country's OMCs

If the prices of oil threaten to remain at such low levels, both government-run ONGC and Oil India as well as private sector RIL-BP or Vedanta could find it extremely unprofitable to dig more fields

Lower crude regime to impact upstream companies, dampen capex plans

Firms fear huge impact on top lines, say investments in oil and gas sector will be affected

AGR case: Govt detaches GAIL, Oil India and other PSUs from SC order

Bharti Airtel paid Rs 10,000 crore, with Rs 27,740 crore balance remaining, he said, adding Vodafone Idea has paid Rs 3,500 crore and Rs 49,538 crore remained due

Non-telecom PSUs to take common legal recourse for AGR: GAIL chairman

GAIL lines up Rs 1 trillion capex for next five years

Natural gas prices in India likely to be cut by steep 25% from April

This will be the second reduction in six months and will reduce rates to the lowest in two-and-half-years

Oil India to move TDSAT against DoT's Rs 48,489 cr demand over past dues

State-owned Oil India is likely to move the TDSAT this week against the telecom department, seeking about Rs 48,500 crore in past dues on the surplus bandwidth capacity it had leased to third parties, its Chairman and Managing Director Sushil Chandra Mishra has said. Other non-telecom firms, which have also been slapped with similar demands, too are likely to move the Telecom Disputes Settlement and Appellate Tribunal (TDSAT). Those likely to go to the TDSAT include gas utility GAIL India Ltd, from whom Rs 1.83 lakh crore has been sought, Power Grid Corp that has been slapped with Rs 21,953.65 crore liability and Gujarat Narmada Valley Fertilizers & Chemicals Ltd which faces a payout of Rs 15,019.97 crore. Following the Supreme Court ruling of October 24, 2019 that non-telecom revenues should be included for considering payments of the government dues by firms holding any sort of telecom license, the Department of Telecommunications (DoT) slapped Rs 1.47 lakh crore demand on ...

Oil India challenges DoT's demand notice for telco-like AGR dues

Says it does not have to pay on all revenues but only for telco services

AGR dues: OIL moves SC; Moody's says business conditions risky in India

OIL has received demand notices for the period from FY08 to FY19 amounting to over Rs 48,000 crore including licence fee, penalties and interest, the company said

Oil India moves SC against DoT's Rs 48,000 cr demand on Rs 1.47 cr revenue

The dues sought are double the net worth of OIL

Oil India plans to move TDSAT over Rs 48,000-crore DoT demand notice

Following SC ruling that non-telecom revenues should be included for considering payments of government dues, the telecom department has asked OIL to pay Rs 48,000 crore

Telecom dept seeks Rs 48,000 cr from Oil India in dues, firm to move TDSAT

Oil India Ltd (OIL) is the second oil and gas firm after GAIL India to have been slapped a demand notice. From gas utility GAIL, the DoT has sought Rs 1.72 trillion.

Arunachal grants exploration licences in seven new blocks to Oil India

The state government has also given its permission to the company for exploration in the extended area of the Jairampur block in Changlang district

Citizenship Act stir: Oil production down 75%, gas output halted in Assam

The PSU major Indian Oil Corporation said vehicle fuel and LPG supply in Tinsukia, Dibrugarh, Sivasagar, Golaghat and Jorhat districts in upper Assam have been severely affected.

Oil India Q2 net profit slips 27% to Rs 627 cr, income dips to Rs 3,481 cr

The company realised crude oil at $61.30 per barrel during the September quarter

Only 8 bids for 7 oil blocks: Tweaked licensing terms draw little interest

The block in Rajasthan saw competition from ONGC and OIL but the five in Madhya Pradesh and one in West Bengal saw single bids from ONGC, DGH said

ONGC, Oil India bank on private players to boost production by end of FY20

At least 23 companies had shown interests in a pre-bid meeting held on September 17

Modi to cancel meeting with global oil CEOs over scheduling issues: Report

The meeting, coordinated by the Niti Aayog, focuses on challenges posed by volatile oil prices, impacted by changing geopolitical situation.