Air India's Rs 2,000 cr dues worry OMCs

National carrier Air India owes about Rs 2,000 crore (Rs 20 billion)in jet fuel dues to state-run oil marketing companies without even bank guarantees.While Air India owes about Rs 300 crore (Rs 3......

GAIL consortium inks pact for Oman Block

GAIL (India) Ltd and its partnerson Wednesday signed the Exploration and Production Sharing Agreementwith government of Oman for Block 56 in Muscat.The consortium consisting of GAIL, Oilex......

Review subsidy sharing plan: ONGC to govt

The Oil and Natural Gas Corp has asked the government to review the scheme of sharing of liquefied petroleum gas and kerosene subsidy with upstream firms and said the scheme should not be extended......

Indian oil firms have 2nd lowest profits

Contrary to popular perception of public sector oil firms making huge profits on selling petrol and diesel by gold plating the cost, Indian firms have second lowest refinery and marketing margins -......