http://docs.oracle.com/cd/E37670_01/E37355/html/ol_create_repo.html

mount -o loop,ro /ISOs/V33411-01.iso /var/OSimage/OL6.3_x86_64

/etc/yum.repos.d/OL63.repo

[OL63]
name=Oracle Linux 6.3 x86_64
baseurl=file:///var/OSimage/OL6.3_x86_64
gpgkey=file:///etc/pki/rpm-gpg/RPM-GPG-KEY
gpgcheck=1 
enabled=1 

# yum clean all

# yum repolist