Oil India Limited (OIL) announced record oil and natural gas production, supported by operational excellence and strategic growth. The company achieved its highest-ever oil and oil-equivalent gas production of 6.710 MMTOE, and highest-ever natural gas production of 3,252 MMSCM. The company reported a standalone net profit of ₹6,114 crore and consolidated net profit of ₹7,040 crore.
Exceptional Production Performance
Oil India Limited (OIL) had a landmark financial year, achieving record oil and natural gas production. The company reached its highest-ever oil and oil-equivalent gas (O+OEG) production, totaling 6.710 MMTOE. The natural gas production reached an all-time high of 3,252 MMSCM.
Strong Financial Results
The company’s financial performance was equally impressive. OIL reported a total standalone income of ₹23,987 crore and a consolidated income of ₹37,830 crore. The net profit stood at ₹6,114 crore on a standalone basis, and ₹7,040 crore on a consolidated basis, with margins of 27.64% and 19.47% respectively.
Strategic Investments & Net Zero Goals
OIL is actively investing in renewables, green hydrogen, biofuels and CBG. The company made substantial progress towards its Net Zero 2040 target, which included a 59% reduction in flaring compared to the prior year.
Numaligarh Refinery Expansion
Transformative projects at Numaligarh Refinery Limited are underway, including a threefold capacity expansion, a 2G bio-ethanol plant, a green hydrogen project and India’s first large-scale Sustainable Aviation Fuel (SAF) facility. The Prime Minister laid the foundation stone for a 360 KTPA polypropylene plant at Numaligarh, with a project cost exceeding ₹7,000 crore.
Source: BSE
