Oil India Ltd (OIL) is a provider of natural gas and crude oil. It is a public sector company that is under the administrative control of Ministry of Petroleum and Natural Gas. It provides different exploration and production (E&P) related service.
Oil India Ltd (OIL) is a provider of natural gas and crude oil. It is a public sector company that is under the administrative control of Ministry of Petroleum and Natural Gas.
Market Capitalisation
The market capitalisation of Oil India Ltd. as on 2 July 2018 is little over Rs. 23,700 crore.
Oil India Ltd. provides different exploration and production (E&P) related services. It holds 26% equity in Numaligarh Refinery Limited. Oil India Ltd. transports crude oil, produces liquefied petroleum gas, offers pipeline services, as well as various exploration and production related services. As per the company website, the Government of India holds 66.13% of the total Issued & Paid-up Capital of the company. Meanwhile, the balance 33.87% of the equity capital is held by public, mutual funds, corporate, banks, resident individuals etc. OIL has more than 1 lakh sq km of PEL/ML areas for its E&P activities, majority of which is in the Indian North East. This accounts for its whole crude oil production and majority of gas production. Meanwhile, Rajasthan contributes 10% of its total gas production.
In the E&P sector, in India, OIL has signed Production Sharing Contracts (PSCs) with private companies like Hindustan Mittal Energy Ltd (HMEL), Geo Global Resources (GGR), Essar Oil, Hindustan Oil Exploration Company (HOEC), Geo-Enpro Petroleum, and others. Along with India, OIL has participating interest in blocks in more than nine countries internationally such as Nigeria, Russia, Yemen, Bangladesh, USA, Libya, Gabon, Venezuela, and Mozambique.
Oil India Ltd. was incorporated on 18 February 1989, following which it became a joint venture between Burmah Oil Company Ltd UK. and the Government of India, in 1961. The company became a wholly-owned Government of India enterprise in 1981. In 2005, the company entered into a memorandum of understanding (MoU) with Indian Oil Tanking Ltd, to take up pipeline and related projects in India as well as internationally. In April 2010, Oil India Limited was conferred the Navratna status by the Government of India.
Mr. Utpal Bora - Chairman and Managing Director
Mr. Utpal Bora was appointed as the Chairman and Managing Director of Oil India Limited (OIL) in July 2016. With an experience of more than 33 years in the E&P sector, Bora has served in various capacities at ONGC Ltd. and has been involved in activities related to well control, well testing, artificial lift, reservoir management and so on. He is credited with turning around ONGC's highest producing onshore Asset. Bora holds the degree of Bachelor of Technology in Petroleum Engineering from ISM, Dhanbad and has completed a Leadership Development Programme from ISB, Hyderabad.
The stock of Oil India Ltd. is available for trading on the two major stock exchanges of India - The National Stock Exchange Limited (NSE) and Bombay Stock Exchange (BSE).
BSE: 533106
NSE: OIL
ISIN: INE274J01014
Sector: Oil drilling and exploration
The company forms a part of important indices like:
Corporate Office
Plot No. 19, Near Film City,
Sector 16A, Noida - 201301
Phone: 0120 - 2488333 to 2488347 (EPABX)
Fax: 0120 - 2488310
E-mail: oilindia@oilindia.in
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