Oil India has dissolved its subsidiary namely ‘Oil India Cyprus’ on September 10, 2022. Net Result of Oil India Cyprus from April 01, 2021 to July 08, 2021 (last working day of the company) was $10,056.
Oil India holds 76% of the share capital of Oil India Cyprus. The balance 24% is held by Oil India Sweden AB. This company was primarily formed for funding loan by OIL in the Venezuelan Asset, namely PetroCarababo S.A.
Oil India (OIL), a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.