Page 10 - Oil India

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.

Govt cuts gas price by over 12%, first such rate reduction since April 2017

The government cut the price of gas produced from difficult fields to $8.43 from $9.32, the PPAC notification said

Falling share prices likely to hit Centre's disinvestment target

Investment bankers said the falling share price of PSUs would mean that the government would not only miss the disinvestment target but also not get good valuation

To cut imports, Oil India aims to raise output by over 7%: Utpal Bora

We are importing around 82 per cent of our requirement, so lower oil prices are more beneficial to the country, says Bora

Oil India likely to exit US, Russia blocks; to stay in Venezuela

The company is in talks with multiple players to sell its assets Niobrara Shale Asset in the US and Licence 61 asset in Russia

OIL share buyback may weaken its financial profile, says Fitch outlook

OIL has announced plans to buy back 4.45 per cent of its shares at a total cost of Rs 1,090 crore.

Oil India turns ex-date for share buyback; stock down 7%

The stock slipped 7% to Rs 188 on the BSE in an otherwise firm market as it turned ex-date for the proposed buy-back of 50.5 million shares at Rs 215 per share.

Oil India to buy back 4.45% shares for Rs 10.85 bn to meet revenue targets

The government is expected to participate in each of the share buyback programme of these PSUs

Oil India gains 3% post Q2 results, share buyback plan

The stock was up 3% at Rs 205 on the BSE in early morning trade.