CHENNAI: Oil India (OIL), a premier public sector undertaking, is planning to acquire stakes in oil blocks in India and abroad. It would use its huge surplus cash reserves to invest in prospective blocks in South America, Africa and Australia.

Ajay Modi / New Delhi May 27, 2009, 0:53 IST

Central exchequer likely to earn revenues worth Rs 4,400 crore

The government is likely to double the price of natural gas sold through the administered price mechanism (APM) to $4.2 per million metric British thermal unit (mmbtu), which is equivalent to the price that Reliance Industries is getting for its K-G basin gas.