Oil India Limited's wholly owned subsidiary, OIL Green Energy Ltd. (OGEL), and Hindustan Waste Treatment Pvt. Ltd. (HWT) have signed a Joint Venture Agreement (JVA) to collaborate on integrated bioenergy and sustainable waste management projects in India. The partnership aims to establish a 50:50 joint venture company to pursue opportunities in compressed biogas (CBG), waste-to-energy, and allied sustainable infrastructure projects. This strategic move supports India's clean energy transition and circular economy objectives.

OGEL was established to drive Oil India's strategic initiatives in renewable and green energy sectors, including CBG and other emerging clean energy opportunities. Oil India is a Maharatna Central Public Sector Enterprise under the Ministry of Petroleum & Natural Gas, with a strong presence across the hydrocarbon value chain encompassing exploration, production, and transportation of crude oil and natural gas.

Hindustan Waste Treatment Pvt. Ltd. is a wholly owned subsidiary of SFC Environmental Technologies Ltd. and is recognized as a technology-driven company in the biogas sector. The company possesses expertise across design, engineering, construction, commissioning, operations, and maintenance of municipal solid waste-based bioenergy projects. HWT has successfully deployed advanced global technologies in India, including a municipal solid waste-based biogas plant in North Goa that has been operational for over a decade.

The proposed joint venture will explore opportunities in CBG, integrated waste-to-energy, and sustainable resource recovery projects across suitable geographies in India. The collaboration seeks to combine OGEL's institutional strength and strategic energy sector experience with HWT's technological and operational capabilities. Representatives from both organizations expressed confidence that the partnership would contribute towards India's vision of Atmanirbharbharata and energy self-reliance.

Oil India Limited has uploaded the video recording of its Investors' and Analysts' Meet – 2026 to its website. The meeting, held on May 25, 2026, detailed the company's financial performance for FY26 and its strategic roadmap. The recording is now accessible via the company's investor services webpage and a direct YouTube link, providing stakeholders with a comprehensive overview of the operational and financial milestones achieved during the fiscal year.

The company reported a consolidated Profit After Tax (PAT) of INR 7,551 Cr, representing a 7% growth compared to FY25. Standalone PAT for the period was INR 3,065 Cr, marking a 90% increase year-on-year. Oil India achieved a consolidated revenue of INR 38,981 Cr in FY26, a 3% increase from the previous fiscal year, while standalone revenue stood at INR 26,658 Cr, growing by 5%. The board declared a total dividend of INR 11.5 per share, consistent with the previous year.

Financial Highlights

Operational Performance

Oil India recorded its highest daily crude oil production in the last decade at 10,566 MT per day (81,354 BBL). This output was supported by the drilling of 74 wells and 307 workovers, the highest counts in a single year for the company. Subsidiary Numaligarh Refinery Ltd. (NRL) processed 3,113 TMT of crude, the highest ever, and achieved product sales of 3,200 TMT. NRL's Gross Refining Margin (GRM) stood at $13.43/bbl, a 161% growth versus FY25.

Strategic Expansion

The company is executing a capital expenditure plan of INR 13,025 Cr for standalone domestic operations in FY26, with 60% directed towards near-term production and reserve accretion. The strategy targets increasing production to 10-12 MMTOE by FY30. Key infrastructure projects include the mechanical completion of the Numaligarh-Siliguri Product Pipeline (NSPL) expansion to 5.5 MMTPA in October 2025 and the Duliajan-Numaligarh Gas Pipeline (DNPL) expansion to 2.5 MMSCMD in November 2025. The company is also investing INR 20,000 Cr by 2040 in renewable energy, CBM, biofuels, and Green Hydrogen.