> This also
shows that owning OIL by Assam may not be that fun after all, and
should be a lesson >to the freedom fighters of Assam. There may not
be much gold in the golden pot.
*** That is serious. Maybe OIL is there for charity to Assam,
employing all those lazy people at exorbitant salaries. The Assamese
ought to be warned not to rock the boat, asking for more royalty et.
OIL may leave and Assam will be left holding the empty wells, and
paying them outsiders to close the wells down.
Yep, those freedom fighters need to screw their heads on
right.
:-) :-) :-)
But seriously something seems to be missing in the reasoning
here, isn't it?
At 8:37 AM -0500 6/7/05, Rajen Barua wrote:
>their profit has zoomed up to Rs 1061 crores in the last
> financial year.
This is where we need to know the reality of the economics of situation. Frankly speaking this Rs. 1061 crores profit will be only around 5% of total annual oil production revenue of OIL (according to my one estimate and based on present world oil price). This also means that OIL will be incurring a loss if it were to pay the royalty to Assam. This also shows that owning OIL by Assam may not be that fun after all, and should be a lesson to the freedom fighters of Assam. There may not be much gold in the golden pot. But there again one need to know how OIL is calculating their profit which may be tricky. Anyhow, I think Assam will be better off just playing dumb and claiming 12.5% royalty which will be around Rs 4000 crores according to one estimate I made earlier. At least that will start the debate and discussion for decentralization. The point is to do something. At present Assam is just sitting Hobo Diok..
RajenBarua
----- Original Message -----
From: "Ram Sarangapani" <[EMAIL PROTECTED]>
To: "Assam" <[email protected]>
Sent: Monday, June 06, 2005 6:17 PM
Subject: [Assam] Oil India Strikes it rich in Dibrugarh Dist.
> This is good news indeed, and the fact that OIL is going for its first IPO.
>
> -----------------
>
> OIL strikes it rich in three structures in Assam
> Guwahati, Jun 06 (UNI) Oil India Limited (OIL) has struck crude
> petroleum in the three new structures in Dibrugarh district of Upper
> Assam even as their profit has zoomed up to Rs 1061 crores in the last
> financial year.
>
> According to the director's report, the OIL has struck oil in the
> three new structures on North Tini Ali, West Zaloni and Samdang-3.
>
> The company is upbeat with the new discoveries as they are preparing
> for the first Initial Public Offering (IPO).
>
> The OIL India sources, however, confirmed that they were keeping their
> finger crossed about the result of the latest round of the New
> Exploratory Licensing Policy (NELP) bidding for getting license for
> exploration of the new block.
>
> The ONGC, Reliance and Videocon are pupshing ahead for license in new
> prospective blocks of Upper Assam.
>
> The source informed that new discoveries would go a long way to double
> the gas and crude production in the next five years through initiative
> like breakthrough performance under taken by the company for
> organisational transformation.
>
> In fact the director's report said the profit after tax was Rs 1061
> crores as the oil and gas products had registered a seven per cent
> growth in the last financial year ending March 2005.
>
> Increased production of crude oil and natural gas coupled with increse
> in price resulted in company recording the highest ever total income
> of Rs 4097 crores.
> --From Deepikaglobal.com
>
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