ST1976
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- Jul 25, 2006
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Oil India Limited
Oil India Limited (OIL) is pioneer in E&P business and presently has large exploratory & producing acreage in India & abroad.
www.oil-india.com
Oil India Limited
Oil India Limited (OIL) is pioneer in E&P business and presently has large exploratory & producing acreage in India & abroad.
www.oil-india.com
Oil India Limited (OIL) is a fully integrated Exploration & Production company in the upstream sector, with origin dating back to the glorious year (1889) of oil discovery in India. A Maharatna Company, OIL is a state-owned enterprise of the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas and is the second largest national oil and gas company in India.
The Business Development department of Oil India Limited (OIL) is engaged in OIL’s growth through business development activities focussing on a two-pronged growth strategy;
- (i) through acquisition of Exploration & Production (E&P) assets outside India and
- (ii) through diversification into non-E & P energy value chain, such as, Renewable Energy, City Gas Distribution, Petrochemicals, pipelines and LNG business within India and outside.
Overseas business initiatives
OIL entered the international oil and gas business with its first international acquisition in Oman in 1998-99. OIL currently owns participating interest in 10 oil and gas assets having its footprint in 7countries viz. Russia, Venezuela, Nigeria, Gabon, Libya, Mozambique and Bangladesh.The Company has a diverse portfolio of exploratory, discovered and producing assets, and has consolidated its experience to take up operatorship in overseas assets of Libya, Gabon and Myanmar.OIL has strengthened its capabilities and forged strong alliances with notable IOCs and NOCs to emerge as a world class player in the oil and gas sector. It has acquired several notable assets in countries of strategic importance to support India’s energy security, growth and to create a balanced oil and gas portfolio for the Company. A few noteworthy acquisitions of OIL include (a) stakes in a mutli trillion cubic feet (tcf) discovered gas asset in Mozambique which is being developed as a mega integrated greenfield LNG Project and (b) stakes in two producing assets- Vankorneft and TYNGD in Russia.
The investments have started paying back. As on 31.03.2022, oil & gas 2P reserves position of overseas producing and discovered assets stood at 50.64 MMTOE. During 2021-22, production from overseas assets corresponding to OIL’s participating interest in these assets stood at 2.20 MMTOE compared to 2.10 MMTOE during 2020-21. As on 31.03.2022, an amount equivalent to USD 663 million has been received at the SPV level as dividend corresponding to OIL’s stake in Vankorneft and TYNGD in Russia.
| 5paisa
Oil India ltd Q4 results of FY21 - Get all the latest news about the stock market, results at 5paisa.com
www.5paisa.com
Oil India Q2 Results: Profit Down 54% On One-Time Loss, Misses Estimates
The company's profit was down mainly on account of the one-time loss of Rs 2,366.84 crore in Q2.
Oil India Ltd invites bids for 1 MW green hydrogen plant
Oil India Ltd has invited domestic bids to establish a 1 MW plant in Himachal Pradesh to produce high-purity (99.999%) green hydrogen for commercial use.
www.pv-magazine-india.com
