Credit rating agency, ICRA has revised the long term rating of Hindustan Oil Exploration Company from ‘A+’ to ‘A-‘ for the line of credit and the outlook on the long term rating is stable.
Hindustan Oil Exploration Company was the first private company in India to enter into field of oil and gas exploration. The company’s operational activities commenced in 1991 with the Government of India announcing the fourth round of exploration bidding for private sector participation.