Indian Oil Corporation has scheduled its board meeting for February 5, 2026, to consider and approve the company's third-quarter financial results for fiscal year 2026. The announcement was made through a formal communication to stock exchanges on January 16, 2026.

Board Meeting Details

The board meeting will focus on reviewing and approving both standalone and consolidated unaudited financial results for the quarter ended December 31, 2025. This announcement comes in compliance with Regulation 29(1) & (2) and 50(1) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015.

Trading Window Restrictions

The company has implemented trading window restrictions as part of its insider trading compliance measures. The trading window for dealing in Indian Oil Corporation securities remains closed for all insiders as defined under the company's Insider Trading Code.

Regulatory Compliance

The announcement demonstrates Indian Oil Corporation's adherence to regulatory requirements and transparency standards. The company has formally notified both the National Stock Exchange of India Limited and BSE Limited about the scheduled board meeting and trading window restrictions.

The communication was signed by Company Secretary Kamal Kumar Gwalani and sent from the company's registered office at IndianOil Bhavan in Mumbai. This formal notification ensures all stakeholders are informed about the upcoming financial results announcement and associated trading restrictions.

Market Implications

The scheduled board meeting represents a routine quarterly disclosure process for the Maharatna company. Investors and market participants will be closely watching the Q3FY26 results, which will provide insights into the company's performance during the third quarter of the current fiscal year. The trading window will reopen on February 8, 2026, following the completion of the results announcement process.

Indian Oil Corporation has announced a breakthrough unconventional oil discovery in Abu Dhabi's Onshore Block 1, with successful testing confirming significant hydrocarbon potential. The company expressed optimism over the well results and the potential to establish economic viability during the upcoming appraisal phase.

Discovery Through Joint Venture Partnership

The oil discovery was achieved through Urja Bharat Pte Limited (UBPL), a special purpose vehicle operating under a strategic 50:50 partnership between Indian Oil Corporation and Bharat PetroResources, which is a wholly owned subsidiary of Bharat Petroleum Corporation. UBPL secured the Onshore Block 1 exploration concession in early 2019 under Abu Dhabi's competitive bid round process.

Successful Well Testing Results

The exploration program has yielded promising results across multiple wells and geological formations:

Following successful hydrofracking operations at the XN-76 well, light crude oil was produced at the surface from the Shilaif formation, establishing the presence of unconventional oil resources in the block. This marked UBPL's first oil discovery in the unconventional Shilaif play.

Second Discovery Expands Resource Base

UBPL has reported another significant oil discovery during testing of the exploratory well XN79-02S within the same concession area. This well successfully flowed light crude oil, representing the first oil find in the Habshan reservoir within the block. The discovery will now undergo appraisal and advance towards potential development phases.

Strategic Significance and Future Development

The company highlighted that these developments represent encouraging progress and constitute a significant milestone for both parent companies as international operators. The discoveries demonstrate the technical capabilities and operational expertise of the joint venture in challenging unconventional oil exploration.

In addition to the new discoveries, UBPL is actively progressing towards the development of the existing Ruwais field and continues to evaluate other hydrocarbon prospects within the concession area. This comprehensive approach aims to maximize the potential of the entire block.

Market Performance

Indian Oil Corporation shares were trading 0.01% lower at ₹157.38 on Wednesday. The stock has declined 6% so far in 2026, reflecting broader market conditions affecting the energy sector.