The Niti Aayog has denied ‘permission’ to state-run Oil India (OIL) to venture into the country’s reinvigorated city gas distribution (CGD) business, arguing that exploration companies must focus on their core activities given the country’s stagnant oil production.
The government today imposed restrictions on export of bio-fuels within days of putting similar conditions for its imports. A licence is required for both exports and imports of bio-fuels.
The government has notified a new policy requiring state-owned Oil and Natural Gas Corp Ltd (ONGC) and Oil India Ltd (OIL) to pay royalty and cess tax only to the extent of their equity holding in certain pre-1999 oil and gas fields.
State-owned Oil India Ltd today reported a 56 per cent jump in its April-June quarter net profit on back of higher oil prices.
Oil India Ltd today said the current prices of crude oil are “comfortable” for both the country and the state-owned company.
Oil India rose 1.31% to Rs 209 at 9:21 IST on BSE after the company said it signed a joint venture pact for construction of grid pipelines in eight North-East states.
Oil India (OIL) has signed a Joint Venture Agreement at Guwahati on 20 July, 2018 in connection with formation of a JV Company for construction of North-East Gas Grid Pipeline in the eight North-Eastern States, viz.
The government will launch the fourth tranche of the CPSE Exchange Traded Fund (ETF) and has started looking for merchant bankers to advise on the sale process.
Oil India’s Q4FY18 net rose 23% q/q to Rs 8.67 billion —in line with JEFe helped by higher other income and lower taxes offset somewhat by higher provisions.
State-owned Oil India Ltd today reported a net profit of Rs 866.5 crore for the March quarter on the back of higher oil prices.