News Brief | November 2014
Oil India decides to restructure
Oil India has decided to restructure itself. Its board has floated a global tender to appoint a consultant to suggest ways to do it, according to news reports. The tender is likely to be finalised in the next two weeks. The rejig would see overhaul of the entire company, including manpower management and deployment, structure of the firm, subsidiaries, etc. Oil India has lined up Rs 19,003-crore investment in the 12th Five-Year Plan period. OIL has set up a subsidiary - Oil India International - to look after its overseas operations.