Oil India Ltd has approved a significant increase in its authorized capital from ₹2000 crore to ₹5000 crore to align its charter with Corporate Strategy & Net Zero Initiatives. The decision was taken during a Board meeting held on Monday, 29 June 2026, which also saw the recommendation to alter the company's Memorandum of Association (MoA) and Articles of Association (AoA). These structural changes are subject to shareholder approval.

The alteration of the MoA involves the categorization of the Object Clause into two sections under the Companies Act, 2013, alongside the renumbering of objects. The enhancement of authorized capital and the addition of enabling clauses are designed to support the company's long-term strategic goals. Concurrently, the AoA will be modified and aligned with the provisions of the Companies Act, 2013, by adding new articles and deleting redundant ones.

In personnel developments, the Board approved the promotion of two senior executives to the role of Executive Director, a position one level below the Board of Directors. These appointments are effective from specific dates in August and September 2026. The promotions aim to strengthen the company's leadership team as it pursues its expanded strategic objectives.

The following table details the executives promoted to the position of Executive Director:

The Board meeting commenced at 03:30 P.M. and concluded at 06:10 P.M. on 29 June 2026. The filing was submitted to the exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Oil India Limited signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research (CSIR) on June 15, 2026, to foster collaborative research, innovation, and technology development in the energy sector. The agreement was signed at OIL House in Noida by the Chairman and Managing Director (CMD) of Oil India and the Director General of CSIR. The ceremony was attended by the Managing Director of Numaligarh Refinery Limited (NRL), other Directors of Oil India, and senior officials from both organizations.

The MoU aims to leverage the strengths of both organizations in advancing cutting-edge technologies and providing innovative solutions. Key focus areas include upstream and downstream oil and gas operations, hydrocarbon reservoir optimisation, enhanced oil recovery (EOR), renewable energy, sustainable energy practices, and critical minerals. The collaboration is expected to facilitate the development of efficient and cost-effective solutions, with a specific focus on operational efficiency.

Strategic Objectives

The partnership underscores Oil India's commitment to strengthening its technological capabilities through strategic collaborations with premier research institutions. This initiative marks a significant step towards promoting innovation-driven growth and supporting the nation's energy security objectives.

Key Focus Areas

The MoU covers a broad spectrum of energy-related domains, as outlined below: