Oil India Limited Announces Record-Breaking Performance at 66th AGM
Reports highest-ever production, robust financials, and unveils innovative energy transition projects
Oil India Limited (OIL), a Navratna CPSU under the Ministry of Petroleum & Natural Gas, held its 66th Annual General Meeting (AGM), highlighting a year of record-breaking achievements in production, financial performance, and sustainability initiatives.
Dr. Ranjit Rath, Chairman & Managing Director of OIL, announced that the company achieved its highest-ever oil and oil-equivalent gas (O+OEG) production of 6.710 MMTOE, along with its highest-ever natural gas production of 3,252 MMSCM, marking a historic milestone in OIL’s operational journey.
Robust Financial Performance
- OIL reported strong financials for FY 2024–25 despite global market volatility:
- The PSU sustained a consolidated capital investment program exceeding ₹18,000 crore and ensured attractive dividend payouts for shareholders.
- Pioneering Projects & Green Initiatives
- Reinforcing its commitment to India’s energy transition, OIL announced several groundbreaking projects:
- World’s First Bamboo-based 2-G Bio Ethanol Plant, inaugurated by the Prime Minister at Numaligarh, Assam.
- 360 KTPA Polypropylene Plant, a ₹7,000+ crore project, foundation stone laid at Numaligarh.
- Net Zero by 2040 target, with a reported 59% reduction in flaring year-on-year.
- Scaling up investments in renewables, green hydrogen, biofuels, and Compressed Biogas (CBG).
- Technological Breakthroughs
- To optimize operations and recovery, OIL deployed advanced technologies including:
- Propellant stimulation
- Fishbone drilling
- AI-based reservoir modeling
Commitment to CSR
OIL reaffirmed its strong CSR agenda, with investments in healthcare, education, skill development, sports, and sustainable livelihoods across its operational regions.
Future Outlook
Dr. Rath stated: “OIL is well positioned to lead India’s energy journey — from oil and gas to clean, sustainable and technologically advanced solutions — powering the nation’s growth while creating enduring value for generations to come.”
The PSU reiterated its alignment with national priorities such as Atmanirbhar Bharat and Viksit Bharat, and its goal of contributing to India’s energy independence by 2047.
