Oil India has received an approval for voluntary winding up its Wholly Owned Subsidiary (WOS) ‘Oil India International’ in accordance with the provisions of the applicable laws. The board of director at its meeting held on November 28, 2016 has approved for the same.
Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company, while IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.