Latest news with #OilIndia
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Business Standard
11 hours ago
- Business
- Business Standard
Oil India commences natural gas production from Bakhri Tibba in Jaisalmer
Government owned Oil India Ltd (OIL) has commenced natural gas production from the Bakhri Tibba block, located in the desert belt near the India-Pakistan border in Rajasthan's Jaisalmer district. The commencement of natural gas production was announced by Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri. Taking to social media platform 'X', the Union Minister hailed the milestone as a testament to the company's resilience and commitment. "This milestone is a shining example of Oil India Ltd's resilience, resolve and responsibility in delivering energy under challenging frontier conditions," Puri posted on Monday. He further said, "I commend the relentless efforts of the Oil India team, who brave extreme situations daily to ensure stable energy flow. Every hydrocarbon molecule produced brings us closer to energy security and self-reliance," he added. Oil India has begun production from the DSF-III (Discovered Small Field) block in Bakhri Tibba. The operation is situated in a remote and arid region, underscoring the scale of the logistical and technical challenges overcome by the team. According to official figures, gas production from the site has already reached a supply rate of 67,200 standard cubic meters per day (SCMD), being delivered to GAIL and the Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL) for downstream utilisation.
The Hindu
2 days ago
- Business
- The Hindu
Oil India commences gas production from Bakhritibba DSF block in Jaisalmer
Oil India (OIL) commenced gas production from the Bakhritibba Discovered Small Field block in Rajasthan's Jaisalmer district on June 1. It set a benchmark by achieving fast monetisation from the DSF III block by drilling 3 MWP wells within the development period leading to supply of 67,200 SCMD gas. This will to be enhanced to production of 100 MSCMD gas from the Bakhritibba Block, the State-owned upstream oil and gas company said on Monday. The teams on the ground operate in some of the most challenging desert conditions to sustain vital energy flows from this frontier region. The block is located in the arid terrains of Western Rajasthan, it said.
Business Standard
2 days ago
- Business
- Business Standard
Oil India commences gas production from Bakhritibba Block in Jaisalmer
Oil India (OIL) has officially commenced gas production from the Bakhritibba Discovered Small Field (DSF) block located in the arid terrains of Western Rajasthan's Jaisalmer District w.e.f 1st June 2025. OIL has set benchmark by achieving fast monetization from DSF III block by successfully drilling 3 MWP wells within the development period leading to supply of 67,200 SCMD gas to be further enhanced to production of 100MSCMD gas from the Bakhritibba Block in Jaisalmer district in Western Rajasthan.
Time of India
7 days ago
- Business
- Time of India
Oil India wins Rajasthan Potash-Halite block in first-ever auction under 5th tranche
New Delhi: Oil India Ltd (OIL) has secured the Jorkian–Satipura–Khunja Amalgamated Potash and Halite block in Rajasthan's Hanumangarh district, becoming the preferred bidder in the fifth tranche of critical and strategic mineral auctions conducted by the Ministry of Mines . This marks the first-ever successful auction of a Potash block by the Government of India. The block was one of 10 mineral blocks awarded in the tranche that featured minerals such as Graphite, Phosphorite, Phosphate, Rare Earth Elements (REE), Vanadium, Potash and Halite across six states — Chhattisgarh, Karnataka, Madhya Pradesh, Odisha, Rajasthan, and Uttar Pradesh. 'Oil India Limited, the Maharatna CPSE of Govt of India, in its commitment towards energy transition and diversifying the business portfolio have successfully bagged a critical and strategic mineral block under the 5th tranche of auction conducted by the Ministry of Mines, Govt. of India,' the company said in a statement. 'OIL has been declared as the Preferred Bidder for grant of composite license for the Jorkian–Satipura–Khunja Amalgamated Potash and Halite Block in Hanumangarh district of Rajasthan,' it said. The auction marks Oil India's entry into the critical and strategic minerals segment. The block awarded to Oil India is among the 34 total blocks awarded across five tranches so far, out of 55 blocks put up for auction. 'OIL's strategic diversification into critical minerals represents a well-timed response to national priorities to support India's self-reliance goals,' the company stated. The Ministry of Mines has also launched the National Critical Mineral Mission to facilitate exploration, development, and self-sufficiency in key minerals critical for energy transition and industrial use.
Time of India
27-05-2025
- Business
- Time of India
I-Sec maintains Buy on Oil India, revises target price to Rs 530
ICICI Securities has maintained a Buy call on Oil India with a revised target price of Rs 530 (earlier Rs 580). The current market price of Oil India is Rs 430. Oil India, incorporated in 1959, is a Mid Cap company with a market cap of Rs 69285.36 crore, operating in Gas & Petroleum sector. Oil India's key products/revenue segments include Oil Crude, Gas Natural, Income From Transportation Services, Renewable Energy System, Condensate for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 9190.64 crore, up 6.39 % from last quarter Total Income of Rs 8639.01 crore and down -1.77 % from last year same quarter Total Income of Rs 9356.32 crore. The company has reported net profit after tax of Rs 1769.40 crore in latest quarter. The company?s top management includes Rath, Kumar Goswami, Suri, Revanakar, Das, Yomdo, Mathur, Thomas. Company has P A & Associates as its auditors. As on 31-12-2024, the company has a total of 163 crore shares outstanding. Investment Rationale Given the weaker pricing environment and FY25 production data, ICICI Securities has tweaked oil and gas output estimates slightly downwards vs previous estimates while reducing oil realisation estimates down to $67/69/73 per bbl for FY26/27/28E. Overall, EPS for FY26/27E has been revised by -16.2/-9.1% to Rs 45.2/61.4 per share and introduce FY28E EPS of Rs 67.1/share with this note. Target price has been revised down to Rs 530 (earlier: Rs 580). This still implies a material 24% upside from CMP. Despite the reductions, the brokerage remains positive. Stock price has declined sharply by ~12% in the last 6 months and valuations of 7xFY27E PER/ 5xEV/EBITDA and 1.1x P/BV are fairly attractive. OIL could deliver an EPS CAGR of 22% over FY26-28E, with RoE/RoCEexpanding by 310-340bps by FY28E (vs FY25) and dividend yield of 5.5% (average FY26-28E). I-Sec reiterates BUY with a revised target price of Rs 530, 24% upside from CMP. Promoter/FII Holdings Promoters held 56.66 per cent stake in the company as of 31-Dec-2024, while FIIs owned 9.42 per cent, DIIs 17.26 per cent.
