Latest news with #OilIndiaLimited
Business Upturn
3 days ago
- Business
- Business Upturn
Oil India commences gas production from Bakhritibba Block in Rajasthan
Oil India Limited (OIL), a leading upstream oil and gas company in India, has recently informed exchanges that the company commenced natural gas production from the Bakhritibba Discovered Small Field (DSF) block located in the Jaisalmer district of Western Rajasthan. The project marks the beginning of gas output from the DSF III round, with OIL successfully drilling three MWP (Minimum Work Program) wells within the designated development period. Initial production is recorded at 67,200 standard cubic meters per day (SCMD) and is expected to scale up to 100,000 SCMD (100 MSCMD) in the coming months. Advertisement This development highlights OIL's operational progress in harnessing hydrocarbon resources from challenging terrains. The Bakhritibba field is situated in an arid zone, requiring technical adaptation and logistical coordination to sustain production. The gas output from this block is anticipated to contribute to regional energy supply and aligns with broader efforts to enhance domestic natural gas availability under India's energy strategy.
Business Insider
4 days ago
- Business
- Business Insider
Phillip Securities Sticks to Its Buy Rating for Oil India Limited (OIL)
In a report released yesterday, from Phillip Securities maintained a Buy rating on Oil India Limited (OIL – Research Report), with a price target of INR545.00. The company's shares closed last Friday at INR426.80. Confident Investing Starts Here: The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Oil India Limited with a INR462.00 average price target. Based on Oil India Limited's latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of INR81.2 billion and a net profit of INR18.86 billion. In comparison, last year the company earned a revenue of INR62.08 billion and had a net profit of INR14.27 billion
Business Upturn
28-05-2025
- Business
- Business Upturn
Oil India secures strategic mineral block in Rajasthan's Hanumangarh district
By Aman Shukla Published on May 28, 2025, 13:57 IST Oil India Limited (OIL), a Maharatna Central Public Sector Enterprise (CPSE) under the Government of India, has been declared the Preferred Bidder for a strategic mineral block in Rajasthan. The company secured the Jorkian–Satipura–Khunja Amalgamated Potash and Halite Block, located in Hanumangarh district, under the fifth tranche of mineral block auctions conducted by the Ministry of Mines, Government of India. This marks a key development as it is the first successful auction of Potash blocks by the Government of India. The move aims to enhance domestic production of critical minerals and reduce import dependency. The awarded composite license allows for both prospecting and mining operations within the designated block. OIL's entry into the critical minerals sector aligns with the Government of India's strategy to strengthen the country's mineral security and promote resource self-reliance. As part of its broader business diversification and energy transition initiatives, Oil India Limited is expanding its portfolio beyond hydrocarbons. The acquisition of this block represents a step toward developing domestic sources of Potash, a vital input for the fertilizer industry. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Hans India
23-05-2025
- Business
- Hans India
Oil India records 10 pc rise in net profit at Rs 6,114 crore for FY25
New Delhi: Government-owned Oil India Limited (OIL) reported a 10.13 per cent increase in net profit to Rs 6,114.19 crore for the financial year ended March 31, 2025, driven by record-high oil and gas production. The upstream oil company achieved its highest-ever total production of 6.71 MMTOE, with crude oil output rising 2.95 per cent to 3.458 MMT and natural gas production increasing 2.20 per cent to 3.252 BCM. The company said it 'has achieved the highest-ever combined oil and gas production of 6.71 MMTOE during FY25. Crude Oil production for the year ended 31 March 2025 increased by 2.95 per cent to 3.458 MMT and the Natural Gas production during FY25 increased by 2.20 per cent to 3.252 BCM and is the highest ever achieved by the company since its inception." Lauding the company's performance, Minister of Petroleum and Natural Gas Hardeep Singh Puri said: 'India's energy sector PSUs continue to make remarkable contributions to India's journey towards energy security under the visionary leadership of PM Narendra Modi. Kudos to Oil India Limited on their exceptional financial performance with a robust 10 per cent growth of Rs 6,114 crore in standalone PAT, and highest-ever production of 6.71 MMTOE. "An impressive consolidated PAT of Rs 7,039 crore, driven by downstream oil refining subsidiary NRL's strong Rs 1608 crore profit and $5.14/bbl GRM (gross refining margin (GRM), reflects the company's strategic strength,' the minister added. The company's board has recommended a final dividend of Rs 1.50 per share, in addition to the 100 per cent interim dividend already paid during the year. Despite the strong annual performance, OIL's fourth-quarter results reflected pressure from lower crude prices and operational margins. Q4 FY25 net profit dropped 22 per cent to Rs 1,591.48 crore from Rs 2,028.83 crore in the same period last year. Total income for the quarter stood at Rs 6,182.79 crore, down from Rs 6,589.91 crore in Q4 FY24, while the EBITDA margin declined to 42.83 per cent from 48.09 per cent. Crude oil price realisation also fell to $74.46 per barrel in FY25 compared to $83.03 in the previous year. The company's EPS for FY25 stood at Rs 37.59, up from Rs 34.13 in FY24. OIL significantly ramped up its capital expenditure, recording a 123 per cent jump to Rs 8,467.33 crore.
Indian Express
14-05-2025
- Business
- Indian Express
Oil India announces hydrocarbon exploration breakthrough in Tripura with Debtamura 1 well
In a major breakthrough in hydrocarbon exploration in Tripura, Oil India Limited (OIL) has commenced its exploration and production activities in the state by drilling the first foot of its Debtamura 1 well in Gomati district. On 11th May, 2025, Oil India Limited commenced its exploration and production activities in Tripura by spudding the well Debtamura#1 at Loc. TUL-B of DSF-II block AA/ONDSF/TULAMARA/2018. Shri Rupjyoti Phukan, RCE, OIL, Maj General (Retd.) Praveen Mathur, Advisor – Security (DGH),… — Oil India Limited (@OilIndiaLimited) May 13, 2025 The company wrote on X, 'On 11th May, 2025, Oil India Limited commenced its exploration and production activities in Tripura by spudding the well Debtamura#1 at Loc. TUL-B of DSF-II block AA/ONDSF/TULAMARA/2018.' 'The well Debtamura#1 is located approximately 120 KM from Agartala, inside Baramura- Debtamura Reserve Forest, Gomati district, near the Indo-Bangladesh International border,' the post further read. Oil India Limited said Debtamura 1 would be the 'first well drilled by any oil and gas company in the state of Tripura', under the central government's Hydrocarbon Exploration and Licensing Policy regime. Oil India Limited added that hydrocarbon exploration and production activities in this block were beset with a myriad of challenges. These included undulated and thick vegetated terrain, challenging surface logistics along narrow hilly roads, and predominant and extended monsoon season causing flooding and landslides due to younger sediments dissected by lineaments, which badly damaged the well plinths and the approach road. 'Overcoming all these, the spirit of all Oil Indians speaks to its moment and our aspiration of Atmanirbhar Bharat,' the company added. Rupjyoti Phukan, RCE, OIL; Maj General (Retd) Praveen Mathur, Advisor – Security (DGH); Directorate of Industries and Commerce Joint Director Sutirtha Paul; Executive Director and HoD, Frontier Basin Project, OIL, Chitra Mohan Bora; Arunav Baruah, Chief General Manager (FB), OIL; Pankaj Kumar Biswas, General Manager, Gas Authority of India Limited (GAIL); and other senior OIL officials attended the spudding at the location.
