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Latest news about Oil India

Oil India Limited Completes Strategic Pipeline Upgrade, Boosting Northeast Energy Infrastructure 3 days ago

Oil India Limited (OIL) has mechanically completed the Numaligarh-Siliguri Product Pipeline (NSPL) upgradation project on October 12, 2025. The project increases the pipeline's capacity from 1.77 MMTPA to 5.50 MMTPA, aligning with the Numaligarh Refinery Expansion Project. This upgrade enhances energy security, supports economic growth, and meets growing demand in Northeast India, contributing to national energy goals.

Oil India Limited Inks 15-Year Gas Supply Agreement with NEEPCO for Assam Power Plant 3 days ago

Oil India and Mahanagar Gas Join Forces in LNG Sector 9 days ago

Oil India and GAIL Forge Strategic Partnership to Boost Natural Gas Sector Sep 30, 2025

Oil India Strikes Natural Gas in Andaman Shallow Offshore Block Sep 29, 2025

More news about Oil India

26Sept 25

Oil India Reports Natural Gas Discovery in Andaman Shallow Offshore Block

Oil India Limited has announced the discovery of natural gas in its Andaman shallow offshore block. The occurrence was confirmed in the second exploratory well, Vijayapuram-2, drilled in the Offshore Andaman Block AN-OSHP-2018/1 under the Open Acreage Licensing Policy. This marks the first reported hydrocarbon occurrence in the ongoing exploration campaign in the region. The company is conducting further tests, including gas isotope studies, to fully evaluate the potential of this discovery.

23Sept 25

Oil India Unveils Global Expansion Strategy for Critical Minerals and Energy Exploration

Oil India Limited announces strategic initiatives to expand globally and diversify operations. Plans include exploring critical minerals and rare earth elements worldwide, venturing into geothermal energy with global partners in India, seeking international asset purchases, and partnering for deep-water exploration. These moves aim to align with energy transition trends, strengthen the company's resource base, and adapt to the changing global energy landscape.

19Sept 25

Oil India and RVUNL Join Forces for 1.2 GW Renewable Energy Projects in Rajasthan

Oil India Limited (OIL) has signed a Joint Venture Agreement with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) to develop 1.2 GW of renewable energy projects in Rajasthan. The portfolio includes 1,000 MW of solar and 200 MW of wind capacity within RVUNL's Renewable Energy Park. The joint venture company will focus on solar, wind, green hydrogen, and other renewable energy solutions. OIL has also established a subsidiary, OIL Green Energy Limited (OGEL), to drive its clean energy strategy. This initiative aligns with OIL's goal of achieving net-zero carbon emissions by 2040.

19Sept 25

Oil India and HCL Join Forces to Explore Critical and Strategic Minerals

Oil India Limited (OIL) and Hindustan Copper Limited (HCL) have signed an MoU to collaborate on exploring and developing critical and strategic minerals, with a focus on copper and associated resources. This partnership aims to strengthen India's self-reliance in sourcing critical mineral resources, support the National Critical Mineral Mission, and contribute to the country's energy security and technological advancement. The collaboration leverages OIL's expertise in exploration and HCL's experience in copper mining and processing.

18Sept 25

Oil India: Major Exploration Expansion, Doubled Capex, and Refinery Growth

Oil India Limited has announced extensive plans for exploration expansion and refinery growth. The company aims to drill over 80 new wells, targeting 4 MMT oil and 5 BCM gas production by FY26. It has doubled its capex estimate for FY26 to ₹17,000 crores and plans to triple the capacity of its Numaligarh Refinery. Oil India expects the Mozambique LNG project to restart by year-end and reported significant dividends from Russian assets. The company is also investing in renewable energy initiatives and has made progress towards its Net Zero 2040 target.

18Sept 25

Oil India Limited Celebrates Record-Breaking Performance at 66th AGM

Oil India Limited (OIL) held its 66th Annual General Meeting, reporting record-breaking production and robust financial results. The company achieved its highest-ever oil and oil-equivalent gas production of 6.710 MMTOE and natural gas production of 3,252 MMSCM. Financially, OIL reported a total income of ₹23,987.00 crore (standalone) and ₹37,830.00 crore (consolidated), with net profits of ₹6,114.00 crore and ₹7,040.00 crore respectively. The company announced innovative projects including the world's first bamboo-based 2-G Bio Ethanol Plant and a 360 KTPA Polypropylene Plant. OIL also committed to a Net Zero 2040 target and increased investments in renewable energy. The company deployed advanced technologies to enhance operations and reaffirmed its commitment to social development initiatives.

11Sept 25

Oil India Approves Joint Venture with RRVUNL and Renewable Energy Asset Transfer

Oil India Limited has approved a 50:50 joint venture with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL). The company also decided to transfer its renewable energy assets at book value to its wholly-owned subsidiary, Oil Green Energy Limited. These moves indicate Oil India's strategy to diversify operations and focus on green energy initiatives.

03Sept 25

NTPC Among 19 Companies Setting Final Day for Dividend-Qualifying Share Purchases

Investors have until Wednesday to purchase shares of 19 companies, including NTPC, to qualify for upcoming dividend distributions. NTPC announced a final dividend of Rs 3.35 per share. Other notable dividend declarations include ONGC (Rs 1.25), Oil India (Rs 1.50), Clean Science and Technology (Rs 4.00), and Bharat Bijlee and Uni Abex Alloy Products (both Rs 35.00 per share). The T+1 settlement cycle in India means investors must buy shares before the record date to be eligible for dividends.

29Aug 25

ONGC Chief Refutes Claims of Russian Crude Below $60 Per Barrel

ONGC Chairperson Arun Kumar Singh has denied reports of Russian crude oil being available below $60 per barrel in the spot market. Singh emphasized ONGC's preparedness for market volatility and highlighted cost management initiatives including reduced drilling rig expenses and logistics savings. He explained that while Russian crude can be economical, higher freight costs often result in landed prices similar to Middle Eastern crude. ONGC Videsh plans to continue overseas expansion and increase production at Russian assets.

28Aug 25

Gulf Oil Lubricants Plans 70% Capacity Expansion to 250 Million Litres

Gulf Oil Lubricants India announces plans to increase production capacity by 70% to 250 million litres within 18 months. The expansion will start at the Chennai plant, with land acquisition completed at Silvassa. The company reported strong Q1 growth, outpacing the industry across B2C, B2B, Industrial, OEM, and Agri-rural segments. Gulf Oil is targeting categories with less than 5% market share for further growth. The company's market cap is ₹6,078.00 crore, with shares trading at ₹1,233.50, down 11.00% over the past year.

19Aug 25

Oil India Reports 45% Drop in Q1 Standalone Profit Amid Lower Crude Prices

Oil India Limited's standalone profit after tax dropped 45% to ₹813.00 crores in Q1 due to a 22% fall in crude oil realization. Revenue declined to ₹5,012.00 crores from ₹5,839.00 crores year-on-year. Despite this, consolidated profit remained stable at ₹2,047.00 crores, supported by strong contributions from subsidiary Numaligarh Refinery Limited and Russian investments. The company produced 0.85 MMT of crude oil and 0.83 BCM of natural gas in Q1. Oil India plans a capital expenditure of ₹6,995.00 crores for the current fiscal year, targeting 3.70 MMT oil and 3.65 BCM gas production.

12Aug 25

Oil India Reports Mixed Q1 Financial Results Amid Challenging Market Conditions

Oil India Limited reported a consolidated Profit After Tax (PAT) of ₹2,046.51 crore, slightly higher than the previous year. However, standalone PAT decreased to ₹813.48 crore due to a 22% drop in crude oil price realization. The company maintained oil and gas production at 1.680 MMTOE and made a new hydrocarbon discovery. Subsidiary NRL increased crude throughput to 799 TMT. The Board approved appointments of new Cost and Secretarial Auditors.

26Jul 25

Oil India Forms Joint Venture for New Ammonia-Urea Fertilizer Plant in Assam

Oil India Limited (OIL) has incorporated a new joint venture, Assam Valley Fertilizer and Chemical Company Limited (AVFCCL), to establish an Ammonia-Urea Complex in Namrup, Assam. The venture includes partners such as the Government of Assam, National Fertilizers Limited, Hindustan Urvarak & Rasayan Limited, and Brahmaputra Valley Fertilizer Corporation Limited. OIL holds an 18% stake in AVFCCL, investing Rs. 1,80,000. The project, known as Namrup IV Fertilizer Plant, aims to enhance domestic fertilizer production. AVFCCL's initial capital structure includes 100,000 subscribed shares at Rs. 10 each. The venture awaits approval from the Department of Fertilizers, Government of India.

17Jul 25

Oil India's Subsidiary Numaligarh Refinery Set for Major Expansion

Numaligarh Refinery, a subsidiary of Oil India, plans to commission a new 120,000 barrel per day crude processing unit in December. This expansion will significantly increase the refinery's capacity, potentially enhancing its market position and contributing to increased production volumes for Oil India. The timely expansion aligns with growing energy demands in the region and could strengthen Oil India's downstream operations.

27Jun 25

Moody's Affirms Oil India's Baa3 Rating, Maintains Stable Outlook

Moody's Investors Service has maintained Oil India Limited's Baa3 credit rating with a stable outlook, affirming its investment-grade status. The rating indicates adequate capacity to meet financial commitments with moderate credit risk. The stable outlook suggests no significant changes in creditworthiness are expected in the near to medium term. This affirmation is notable given the challenges in the oil and gas sector, potentially benefiting Oil India with easier access to capital markets and lower borrowing costs.

02Jun 25

Oil India Kicks Off Gas Production from Bakhritibba DSF Block in Rajasthan

Oil India Limited (OIL) has started gas production from the Bakhritibba Discovered Small Field (DSF) block in Rajasthan. This operational milestone expands OIL's presence in Rajasthan's hydrocarbon sector and demonstrates the company's ability to develop smaller fields efficiently. The new gas stream could potentially increase OIL's overall natural gas output, diversify its production portfolio, and contribute to revenue growth.

28May 25

Oil India Secures Preferred Bidder Status for Rajasthan Potash Block, Reports 30% Surge in Q4 Profit

Oil India Limited has been declared the preferred bidder for the Jorkian-Satipura-Khunja Amalgamated Potash and Halite block in Rajasthan. The company reported a 30% increase in net profit to ₹1,591.00 crore for Q4, with revenue growing 5% to ₹5,519.00 crore. Oil India also achieved its highest combined oil and gas production of 6.71 MTOE.

28May 25

Oil India Secures Potash Exploration Block in Rajasthan

Oil India Limited (OIL) has been allocated a potash exploration block in Rajasthan, marking its entry into mineral exploration. This strategic move diversifies OIL's portfolio beyond its traditional hydrocarbon focus. Potash, crucial for fertilizer production, could contribute to India's agricultural sector and reduce dependence on imports. While specific details about the block are not disclosed, this venture has the potential to broaden OIL's revenue streams and enhance its portfolio diversity.

22May 25

Oil India Reports Q4 Profit Surge and Announces Dividend

Oil India's Q4 net profit increased by 30.11% to ₹15.90 crore, up from ₹12.22 crore in the previous quarter. Revenue rose by 5.34% to ₹55.20 crore. The company's board has recommended a dividend of ₹1.50 per share.

21May 25

Oil India's Q4 Profit Surges 30%, Meets Estimates and Announces Dividend

Oil India Limited reported a 30% increase in Q4 net profit to ₹1,591.00 crore, with revenue rising 5.30% to ₹5,519.00 crore. Full-year profit grew 10% to ₹6,114.00 crore. The board recommended a final dividend of ₹1.50 per share.

29Apr 25

Fitch Reaffirms Oil India Limited's 'BBB-' Credit Rating with Stable Outlook

Fitch Ratings has affirmed Oil India Limited's credit rating at 'BBB-' with a stable outlook, indicating moderate default risk and adequate capacity to meet financial commitments. This affirmation, amid industry challenges, underscores the company's financial stability and operational performance. The stable outlook suggests expectations of maintained performance in the near to medium term, reflecting Oil India's robust business model, strategic importance in India's energy sector, and prudent financial management.

28Mar 25

Oil India Eyes 20% Stake in SQM's Australian Lithium Projects

Oil India Limited is reportedly seeking to acquire a 20% stake in lithium projects owned by SQM in Australia. This strategic move marks Oil India's potential entry into the electric vehicle and renewable energy storage markets, signaling a significant diversification from its traditional oil and gas operations. The acquisition could position Oil India as a key player in the EV supply chain, expand its international footprint, and reduce dependence on fossil fuels. This aligns with the global trend of oil and gas companies expanding into renewable energy sectors, driven by the expected rise in global lithium demand.

24Feb 25

Oil India Limited Forges Strategic Partnership with Assam Power Generation Corporation

Oil India Limited (OIL) has entered into a joint venture agreement with Assam Power Generation Corporation Limited (APGCL). This partnership combines OIL's energy sector experience with APGCL's power generation expertise, aiming to enhance energy production and infrastructure in Assam. While specific details are pending, the collaboration could lead to new energy projects, infrastructure improvements, technological advancements, and regional economic growth.