Oil India Ltd has set aside $2 billion for overseas acquisitions, Chairman N M Borah told reporters on Thursday. “We are currently doing due diligence for 2-3 assets,” Borah said. He said in May that the company was looking at acquiring stakes in fields in Myanmar and Bangladesh. The company has acquired stakes in exploration [...]

Oil India  said its net profit rose by 0.79 per cent to Rs 722.56 crore in the quarter ended September 30, 2009. Total operating income, however, declined to Rs 2,143.07 crore in the July-September quarter from Rs 2,194.14 crore in the same period previous fiscal, Oil India said in a filing to the Bombay Stock [...]

The initial public offer of state-run Oil India on Monday got subscribed 91 per cent within an hour of opening of the issue. The OIL IPO, which is the second stake sale by a PSU company after NHPC last month, received bids for over 2.40 crore shares as against 2.64 crore shares on offer, as [...]

Oil India Ltd, the nation’s second-largest state-run explorer, may hit the market with an initial public offering (IPO) on September 7. “As per the tentative schedule drawn, the IPO may open for public subscription on September 7 and will close on September 11,” a Petroleum Ministry official said. OIL, which produces 3.5 million tonnes a [...]

Oil India, the nation’s second-largest state-run explorer, is likely to launch an initial public offering (IPO) in the first week of September. “We are going ahead with the IPO. Roadshows will be held in August and the offering will open for public subscription in the first week of September,” a company official said. OIL, which [...]