Oil India inks MoU with IREL to boost critical mineral resources
Given the increasing importance of critical minerals, OIL India has diversified into critical minerals apart from its present portfolio of Oil and Gas. IREL, a Miniratna PSU, under Department of Atomic Energy, is engaged in mining and processing of mineral sands, including extraction and refining of Rare Earth Elements.
The collaboration between OIL India and IREL marks a crucial milestone in India's pursuit of self-reliance in critical minerals and rare earth elements. As part of identified PSUs under the National Critical Mineral Mission of Govt. of India, this collaboration will play a vital role in securing strategic mineral resources essential for the nation's energy security and technological advancement.
Oil India is engaged in exploration, development, and production of crude oil and natural gas, transportation of crude oil, and production of LPG. It also provides various exploration & production (E&P)-related services for oil blocks.
The companys consolidated net profit declined 38.8% to Rs 1310.10 on 3.7% fall in net sales to Rs 8808.34 crore in Q4 March 2025 over Q4 March 2024.
The counter rose 0.02% to end at Rs 432.10 on the BSE.
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