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companies name

Oil India Limited (OIL)

Oil India Limited (OIL) is the second-largest hydrocarbon exploration and production Indian public sector company with its operational headquarters in Duliajan (Assam) and corporate offices in Noida. OIL is engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of liquid petroleum gas. The company's history spans the discovery of crude oil in the far east of India at Digboi, Assam in 1889 to its present status as a fully integrated upstream petroleum company.

Oil India Limited (OIL) News

India’s crude oil production declines 6% y-o-y in May

India’s crude oil production in May was 6 percent lower in comparison to May 2020 and 5.47 percent lower than the monthly target as it settled at 2,437.96 TMT ....

Oil India's net profit declines by 32.60% to Rs 1741.59 crore in FY'21

Net profit of Oil India Limited (OIL) declined by 32.60 percent to Rs 1,741.59 crore in FY 2020-21 as against Rs 2,584.06 crore during FY 2019-20 ....

Oil & gas companies told to raise production; 50 BCM gas & 40 MT crude oil by FY24

The DGH has set a production target of 50 BCM of gas and 40 MT of crude oil by FY24 for oil and gas companies ....

Govt will auction ONGC, OIL’s major unmonetised fields, bring in private players: Pradhan

Dharmendra Pradhan has said that there will be no DSF auction next time because the government has plans to auction ‘major’ idle, unmonetised fields of ONGC, OIL ....

Govt will bring taxation reliefs to make oil & gas production more viable: Petroleum Secretary

Petroleum Secretary has said that the government is working on addressing taxation concerns and will do everything necessary to make domestic production of oil and gas viable ....

Baghjan blowout at OIL destroyed 55% biodiversity, caused loss of Rs 25,000 cr: Report

The gas blowout at a well owned by OIL in its Baghjan oilfield in 2020 destroyed around 55 percent of the biodiversity in the area and caused a loss of Rs 25,000 crore, said a report ....

CSR Watch: OIL extends financial support of Rs 5 crore to Assam CM's Relief Fund

Oil India Limited (OIL) has extended financial support of 5 crore to the Chief Minister's Relief Fund of Assam to support the fight against COVID-19 ....

Govt to launch DSF round 3 for discovered oil & gas fields on May 18

After a lag of over two years, the government is now set to launch the third bidding round for Discovered Small Fields (DSF) on May 18, according to the DGH ....

ONGC, HPCL setting up 20 oxygen plants, BPCL supplying over 400 MT/month of oxygen

ONGC, HPCL have been tasked with setting up oxygen generation plants at 10 hospitals each across 7 states; BPCL is supplying over 400 MT/month of oxygen from refineries ....

COVID-19: Govt summons oil PSUs into service, asks them to set up oxygen plants in hospitals

The government has summoned its oil PSUs into service and has asked them to set up medical oxygen plants in hospitals across 93 locations in India ....

Reliance’s KG 98/3 block drives India’s private sector gas output up by 115.25% in March y-o-y

Reliance’s R Cluster in block KG 98/3 has driven India’s total natural gas output by the private sector up by 115.25 percent in March year-on-year ....

FY21: India’s crude oil production has declined by 20% in a decade, shows official data

In the backdrop of the government’s call for an Atmanirbhar Bharat, India’s cumulative crude oil production has registered a decline of 20 percent over the last decade ....

NRL to invest Rs 90 cr in Namrup, West Mechaki oil blocks along with OIL

OIL said that NRL has earmarked an investment of Rs 90 crore for two oil blocks — Namrup and West Mechaki — where it is partnering with the E&P company as the operator ....

Director (HR) post in Oil India going to fall vacant soon; job applications invited

Oil India Ltd (OIL) has invited job applications for the post of Director (HR). Eligible and interested candidates can apply for the job before June 15 ....

CSR Watch: Oil India supports Assam Volleyball Mission

Oil India Limited (OIL) under its CSR has been conducting rural sports in its operational villages to promote games and sports among the youth and school students with prime focus on promotion of athletics ....

NRL disinvestment complete as OIL, EIL, Assam govt acquire BPCL’s shares

A consortium of state-run OIL, EIL and the Assam government have completed the acquisition of BPCL’s shares in NRL ....

First debt drawdown for Mozambique Rovuma project expected in April: OIL

OIL has said that Mozambique Rovuma Offshore Area-l Project has fulfilled all pre-conditions for the first debt drawdown and it is expected to be issued in April ....

Oil India celebrates International Women’s Day

Oil India Limited (OIL), India’s second-largest national exploration and production company, celebrated International Women’s Day across its offices on March 8 ....

OIL will strengthen Guwahati office, says CMD

Speaking exclusively to PSU Watch, OIL CMD SC Mishra has said that the company has planned to establish and strengthen it's Guwahati office and also that there are no plans to relocate headquarters from Duliajan, Assam ....

PM inaugurates oil & gas projects and Engineering Colleges in Assam

PM has dedicated INDMAX Unit at Indian Oil’s Bongaigaon Refinery, Oil India Limited's Secondary Tank Farm at Madhuban, Dibrugarh and a Gas Compressor Station at Hebeda Village, Makum, Tinsukia remotely from Dhemaji in Assam on Monday ....

India’s crude oil output misses target by 8% in Jan as COVID-19 disruptions continue

Continuing on the downward trajectory, India’s crude oil production in January settled at 2,572.69 TMT, which was 7.95 percent lower than the target set for the month ....

Oil India posts 122.37% increase in PAT for Q3FY21 at Rs 903 cr

Oil India Ltd has posted a 122.37% increase in Profit after tax (PAT) for Q3FY21 to Rs 903.69 crore against PAT of Rs 406.39 crore in the CPLY ....

Oil India bags 2 awards at FIPI Oil & Gas Awards 2020

Oil India Limited (OIL) has been awarded with ‘Exploration & Production - Company of the Year’ and ‘Excellence in Human Resource Management’ awards at FIPI Oil & Gas Awards 2020 ....

OIL signs MoU with Rajiv Gandhi Institute of Petroleum Technology (RGIPT)

In order to promote industry-academia partnership, Oil India Limited (OIL) and Rajiv Gandhi Institute of Petroleum Technology (RGIPT), Jais, Amethi have signed an MoU on Thursday ....

Oil India commences first-ever seismic survey in Tripura

Oil India Limited (OIL) has kick-started its exploration and production operations by launching its first-ever seismic survey in the state of Tripura ....

Oil India celebrates 72nd Republic Day with patriotic fervour

On the occasion of 72nd Republic Day, OIL 'sCMD Sushil Chandra Mishra unfurled the national flag amidst the singing of the national anthem by OIL’s employees and their families, in the presence of members on the board and senior officials of OIL ....

Natural gas production in Dec’20 falls short of target by 23%

Natural gas production during Dec 2020 was 2424.90 MMSCM, which was 22.94% lower than the monthly target and 7.11% lower when compared with Dec 2019 ....

Crude oil output for Dec’20 misses target by nearly 7%; Covid-19 impacts production

Crude oil production during Dec 2020 missed the target by 6.85% as both public and private sector E&P companies reported decline in output due to Covid-19 ....

PCRA launches month long 'Saksham', click to know the details

Apart from launching a month-long campaign 'Saksham', a memorandum of understanding (MoU) has also been signed between PCRA and EESL for the promotion of an energy-efficient PNG stove ....

Govt mulling proposal to develop free market for domestic crude oil

The Centre is considering a proposal to abandon the current practice of allocating domestic crude oil to refineries, which would help develop a free market for crude oil ....

Govt wants to run industrial plants on natural gas, plan to benefit ONGC, OIL

The Central government is considering a proposal to run industrial plants across the country, wherever possible, on natural gas ....

India’s crude oil output dips again in Nov. What does it say about Atmanirbhar Bharat?

Even as PM has given a call for Atmanirbhar Bharat, India’s domestic crude oil production has recorded a consistent decline, increasing the country’s dependence on imports ....

Oil India signs MoU with Assam Hydrocarbon & Energy Company (AHECL)

As per Oil India Limited (OIL), this MoU with AHECL is aimed at establishing a joint institutional framework to facilitate bilateral cooperation in hydrocarbon exploration & development and marketing of natural gas in the state of Assam ....

Asheesh Joshi (IAS) appointed as Govt Nominee Director of OIL

Ministry of Petroleum & Natural Gas' (MoP&NG) Director Asheesh Joshi (IAS) has been appointed as Government Nominee Director of Oil India Limited ....

Gauhati HC stays green nod given to OIL for drilling inside Dibru-Saikhowa National Park

The Gauhati High Court has put a stay on the environmental clearance granted to OIL by the Centre to drill seven wells inside the Dibru-Saikhowa National Park ....

These PSUs made it to Fortune 500 list 2020 of Indian companies

Indian Oil has been ranked no 2 in the Fortune 500 list 2020 of Indian companies followed by Oil & Natural Gas Corporation (ONGC), State Bank of India (SBI), and BPCL (Bharat Petroleum) in the top ten list ....

OIL finally kills, caps and abandons well blowout site in Baghjan

After six months, OIL has finally been able to wrap up all work pertaining to the capping, killing and final abandonment of the well in Assam’s Baghjan ....

Pradhan inaugurates OIL’s Rs 220-cr seismic survey campaign in Mahanadi basin, Odisha

Pradhan said that commercial production of oil and gas from Mahanadi basin will be a game-changer for Odisha ....

Govt releases new policy, mandates oil & gas PSUs to ensure 50-20% local content in procurement

The government has mandated oil and gas PSUs to ensure 50-20 percent local content (LC) in the procurements made by them ....

Pradhan tells ONGC, OIL: Bring in global players for E&P in blocks won under OALP V

Pradhan urged ONGC and OIL to farm out OALP areas so as to bring in international players into exploration activities and run the business in a professional manner ....

Finally, Baghjan blowout well successfully killed says OIL

After the long struggle of more than five months, Oil India Limited (OIL) has successfully killed the blowout in the Baghjan gas well in Assam ....

Oil India discovers hydrocarbon gas in Assam, OIL shares still traded low

Oil India Limited (OIL) has has made a natural gas discovery at a well drilled in Tinsukia, Assam ....

OIL prepares to control Baghjan blowout with Canadian snubbing unit

The team of foreign experts and personnel from OIL have begun all the pre-snubbing operation activities and it is expected that the operation will begin within a day or two ....

India’s natural gas production touches new low in Sep after brief recovery since April

After having recovered briefly in the aftermath of the COVID-19 crisis, India’s natural gas production has hit a new low in September at 2,293.52 MMSCM ....

India’s crude oil output continues to decline, misses target by 6.94% in Sep

Continuing its downward trajectory, India’s crude oil production settled at 2,486.52 TMT in September, which was 6.94 percent lower than the target ....

OALP Round 5: Private sector keeps away, ONGC wins 11 blocks, OIL 4

Oil and Natural Gas Corporation (ONGC) has secured 11 blocks and Oil India Limited (OIL) has won the remaining four under Round 5 of the OALP ....

Breakthrough: MRPL receives patent for process distillation

ONGC's subsidiary MRPL has got patent for its unique distillation process that reduce water consumption and sour water generation in product stripping and fractionation operations ....

OIL has begun ops on 2 blocks in Andaman, plans to drill 66 wells in OALP blocks in 3-4 yrs: CMD

OIL is using a multi-purpose seismic data acquisition vessel for the acquisition of 8400 LK of 2D seismic data in OIL’s OALP-III blocks in Andaman offshore ....

83 students of OIL Super-30 qualified JEE (Advanced) 2020

83 students from six Oil India Limited (OIL) Super-30 centres have secured ranks in JEE (Advanced) 2020 ....

Data shows oil PSUs have spent only 25% of FY21 capex until August

Most state-run oil PSUs have spent nearly 25 percent of their capex for FY21 in the period between April and August, government data shows ....

Natural gas production in India remains loss-making, say ratings agencies after price cut

With the Centre announcing a price cut, rating agencies declared that natural gas production in India remains a loss-making proposition for most fields ....

OIL lost Rs 148 crore due to Assam well blowout: Pradhan

OIL lost Rs 148 crore in revenue in the aftermath of the well blowout in its oilfield in Assam’s Baghjan, Petroleum Minister Dharmendra Pradhan said ....

OIL’s Baghjan site turns out to be COVID hotspot, 100 infected & recovered so far

The well blowout site in Assam’s Baghjan has turned out to be a hotspot of COVID-19 infection as 100 employees of OIL have been infected ....

India records lowest crude oil output in 9 years in April-July period

In the backdrop of the government’s call for Aatmanirbhar Bharat, India has recorded its lowest crude oil output in the April-July period in the last nine years ....

OIL posts net loss of Rs 249 cr in Q1 of FY21 due to slump in crude oil prices

In Q1 of FY21, Oil India Limited (OIL), which is the country’s second-largest oil and gas producing company, has reported a net loss of Rs 248.61 crore ....

OIL begins final well killing operation; Baghjan gas leak to be curbed in 24-36 hrs

The well killing operation is the final measure towards capping the gas leakage from the well in Baghjan and will take about 24-36 hours ....

DoT asks OIL to pay up dues totalling double its net worth

The DoT has levied past statutory dues on Oil India Limited that amount to double the net worth of the state-run company ....

IOC & OIL collaborate on CO2-assisted Enhanced Oil Recovery project

IOCL and OIL have signed an MoU for carbon capture, utilisation and storage in CO2 assisted Enhanced Oil Recovery (EOR) project in Assam ....

Numaligarh Refinery will now be taken over by Indian Oil or OIL

As the disinvestment plan for Numaligarh Refinery is scrapped, the transfer of management control is likely to go to either Indian Oil or OIL ....

OIL bags most blocks under OALP round II & III, Vedanta closes in on 2nd spot

One block also went to BP and its partner RIL, marking the re-entry of RIL into domestic oil E&P sector after a gap of 11 years ....