Latest news with #OilIndiaLtd
Time of India
2 days ago
- Business
- Time of India
Oil India commences natural gas production from Bakhri Tibba block 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.
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Business Standard
2 days 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.
Time of India
2 days ago
- Business
- Time of India
Oil India commences natural gas production from Bakhri Tibba block in Jaisalmer
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel 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 commencement of natural gas production was announced by Union Minister for Petroleum and Natural Gas, Hardeep Singh 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 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 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 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.
Time of India
4 days ago
- Business
- Time of India
OIL India starts gas production from DSF-III Bakhritiba block in Rajasthan, to scale up output to 100 MSCMD
New Delhi: Oil India Ltd (OIL) has commenced natural gas production from the Bakhritiba block awarded under the Discovered Small Field (DSF) III bid round in Rajasthan's Jaisalmer district. The production has begun at a rate of 67,200 standard cubic meters per day (SCMD), which is planned to be enhanced to 100,000 SCMD (100 MSCMD), according to the Ministry of Petroleum and Natural Gas. The gas output is being supplied to GAIL (India) Ltd and Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL), the ministry stated. The production comes after successful drilling of three MWP wells within the block's stipulated development period. Petroleum and Natural Gas Minister Hardeep Singh Puri, in a post on social media platform X, said, 'Heartiest congratulations to Oil India Limited (OIL) on setting a 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 GAIL/ RRVUNL to be further enhanced to production of 100 MSCMD gas from the Bakhritiba Block in Jaisalmer district in Western Rajasthan.' Puri said the development 'stands as a testimony of OIL's resilience, resolve, and responsibility – delivering energy in challenging frontier environments.' The minister also acknowledged the efforts of the company's operational teams. 'I commend the tireless efforts of the OIL team, who brave extreme conditions every day to ensure steady energy flows. Every hydrocarbon molecule produced fuels India's march towards energy security and self-reliance,' he said. The Bakhritiba field development is part of India's broader effort to enhance domestic oil and gas output by monetising smaller hydrocarbon reserves awarded under the DSF policy.>
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Business Standard
21-05-2025
- Business
- Business Standard
Oil India Q4 results: Profit declines 39% to ₹1,310 cr, dividend declared
State-run Oil India Ltd on Wednesday reported a consolidated net profit of ₹1,310.10 crore for the quarter ended 31 March 2025 (Q4 FY25), marking a sharp decline of nearly 39 per cent from ₹2,140.72 crore in the year-ago period (Q4 FY24). Sequentially, the company's profit remained largely flat compared to ₹1,338.85 crore reported in the December quarter (Q3 FY25). Revenue from operations in Q4 FY25 stood at ₹9,587.82 crore, down around 6 per cent from ₹10,165.78 crore in Q4 FY24. However, on a quarter-on-quarter basis, revenue rose moderately from ₹9,089.14 crore in Q3 FY25. However, in an exchange filing, 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." Oil India FY25 result For the entire year, Oil India reported a consolidated net profit of ₹6,550.93 crore for FY25, up 3.3 per cent from ₹6,335.10 crore in FY24. Meanwhile, the revenue for FY25 stood at ₹36,163.75 crore, marginally lower than ₹36,303.62 crore recorded in FY24. Oil India dividend declared The board of directors of the PSU have recommended a final dividend of ₹1.50 per equity share, subject to the approval of the company. Share of Oil India were last trading at ₹426.55 apiece n BSE at the close of the market on Wednesday. Oil India FY25 Highlights Net Profit: ₹1,310.10 crore Revenue: ₹9,587.82 crore Earnings Per Share (EPS): ₹8.05 (basic and diluted) Oil India FY25 Highlights Net Profit: ₹6,550.93 crore Revenue: ₹36,163.75 crore Earnings Per Share (EPS): ₹40.27 (basic and diluted)
