Diabytes
Oil India News
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Upstream oil exploration and production companies ONGC and Oil India Ltd stand to gain as they will have to pay a lower tax on their crude.
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The company has announced vacancies for Assistant Technician and Junior Engineer positions.
The interested and eligible applicants can apply through the official website- oil-india.com.
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The last date to submit the application forms is October 10.
Students will be selected on the basis of computer-based test, group discussion or group task and personal interview.
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The pass marks of the Walk-in-Practical/Skill Test cum Personal Assessments will be minimum 50 per cent.
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The blaze at the well is so massive that it can be seen from a distance of more than 30 kms with thick black smoke rising several metres high, endangering the local biodiversity in the Dibru-Saikhowa National Park following the blowout on May 27.
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The central government will pay two state-owned firms' outstanding liabilities of Rs 14,698 crore directly to the state governments, who will not insist on levy of Rs 7,223 crore interest on payments that were due from April 2008.
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The Cabinet on Wednesday gave its nod to a consortium of IOC, Oil India and BPCL buying stakes in two Russian oilfields for a total of USD 3.14 billion.
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ONGC will have to shell out Rs 392 crore and Oil India Ltd over Rs 1,100 crore after the government ordered them to pay royalty at gross crude oil price and not the net rate they actually realise.
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In a bonanza to oil producing states like Assam, the government has ordered state-owned ONGC and Oil India to pay royalty to them on the gross price for crude oil and not the net rate they actually realise.
State-owned oil producers ONGC and Oil India as well as private sector Cairn India have asked the government to cut cess on crude oil they have to pay in view of slump in prices.
State-run Oil India Ltd has got environment clearance for drilling 20 wells in three blocks in Jaisalmer, Rajasthan for production of 1 mmscmd gas at an estimated cost of Rs 96 crore.
Shares of oil exploration companies were in huge demand Wednesday, surging up to 20 percent, as the government decided to auction 69 idle oil and gas fields of state-owned ONGC and Oil India to private firms on a new revenue sharing model and liberalised terms.
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In a 'paradigm' shift, government will auction 69 idle oil and gas fields of state-owned ONGC and Oil India to private firms on a new revenue sharing model and liberalised terms including pricing and marketing freedom.
The fields hold 89 million tonne of oil and gas resources which are worth Rs 70,000 crore at current prices.
State-owned Oil India Ltd on Saturday said March quarter net profit has dropped marginally to Rs 551.72 crore from Rs 565.62 crore in the same period a year ago.
Lower oil prices have reduced net margins of two state-owned upstream companies, Oil India Ltd and ONGC Ltd and the government needs to reduce the burden on them, credit rating agency Fitch said Friday.
"Marginal field policy will have approval soon for 69 fields which ONGC and Oil India have agreed to give. We hope to put them for bidding," Saurabh Chandra told reporters in New Delhi.
The project cost Rs 439 crore -- Rs 126.5 crore for the Gujarat side and Rs 312.45 crore for the Madhya Pradesh location.
The government regulates price of cooking fuels -- LPG and kerosene -- to shield the poor.
India regulates retail prices of liquefied petroleum gas and kerosene to keep prices under check.
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