Electronic – Inverting op amp used with low frequency oscillator

I think you have a few issues that you need to address.

The primary issue is that the Q of your tank is very low. The Q of a parallel RLC circuit is:

$$Q=R\sqrt{\frac{C}{L}}$$

Considering that your resistive feedback is effectively in parallel with the tank, we can calculate Q:

$$ 1500\Omega \sqrt{\frac{1nF}{15\mu H}}=Q= 12 $$

The Q of 12 is VERY low, so this is probably your main issue. Increasing the magnitude of R1 and R2 should be sufficient for your circuit to oscillate properly. See my example simulation here. If your Q is too low, you will need more gain to compensate for the losses.

A second potential problem is that the op-amp you selected, the 741, has a bandwidth that is a bit low for the frequency you selected. The datasheet indicates a bandwidth of 1.5 MHz, and your oscillator frequency is 1.3 MHz. This may result in your op-amp not providing enough gain for the oscillator to function properly. There are MANY op-amps that would provide an improvement over a 741.

Another possible issue is that oscillators are a bit tricky to get working in simulators. While it sounds like this is not an issue for you, it is a potential pitfall. Often, the random noise that usually starts oscillators in reality does not occur in a simulator. Often a noise source or impulse is required to kick-start the oscillator.

Your formula is written such that it assumes that Vdd and Vss are symmetric with respect to ground. If this is not true — e.g., you are using only a single power supply with Vss tied to ground — this formula does not apply.

If you want to use this circuit with a single supply (or asymmetric supplies), you'll need to connect the grounded end of R1 to a "virtual ground" at (Vdd+Vss)/2. In fact, what you can do is simply split R1 into two separate resistors with twice the value, and connect one between R2 and Vss and the other between R2 and Vdd.