Oil India Limited
Oil India Limited was incorporated on February 18, 1959, to expand and develop the newly discovered oil fields of Naharkatiya and Moran in the Indian Northeast. It is a Navratna PSU is a fully integrated Exploration & Production company in the upstream sector and is the second largest national oil and gas company of India as measured by total proved plus probable oil and natural gas reserves and production in India. OIL has over 1 lakh sq. km of PEL/ML areas for its exploration and production activities, most of it in the Indian Northeast, which accounts for its entire crude oil production and majority of gas production. Rajasthan is the other producing area of OIL, contributing 10 per cent of its total gas production.OIL’s exploration activities are spread over onshore areas of Ganga Valley and Mahanadi. OIL also has participating interest in NELP exploration blocks in Mahanadi Offshore, Mumbai Deepwater, Krishna Godavari Deepwater, etc. as well as various overseas projects in Libya, Gabon, USA, Nigeria, and Sudan.As a responsible corporate citizen, OIL donated a sum of Rs. 13 Crores towards PMCARES Fund in FY 2019-20. The company spent Rs 125.41 Crore in CSR activities in FY 2020 which 4.49% of Net Profit. The expenditure was in healthcare and sanitation work. It has also started a completely free residential coaching for the meritorious students from the backward sections of the society hailing from Assam, Arunachal Pradesh & Rajasthan. Company has also initiated several programmes for differently abled people.Their shareholding pattern include Promoters having 56.66% shares, FIIs having 7.62% shares, DIIs having 18.99% and Public having 16.73% shares.For the quarter ended 31-03-2021, the company has reported a Consolidated Total Income of Rs 7193.40 Crore, up 11.29% from last quarter Total Income of Rs 6463.29 Crore and up 35.03% from last year same quarter Total Income of Rs 5327.19 Crore. Company has reported net profit after tax of Rs 1142.42 Crore in latest quarter. The Board of Directors recommended Final Dividend of Rs. 1.50 per share for the financial year 2020-21.The results of Q4 were exhilarating.
