​​​​​​​Oil India Limited: Energizing Growth and Fuelling India’s Energy Future

Oil India Limited (OIL), a prestigious Maharatna Public Sector Undertaking, is more than just an energy company; it is a legacy of over 100 years of trust and innovation. As a fully integrated player in the upstream, midstream, and downstream sectors, OIL remains the backbone of India’s energy security. From discovering Asia’s first oil well to leading the transition toward a Net Zero future, OIL continues to set benchmarks in the global energy landscape.

A Century of Excellence and Key Milestones

Oil India Limited has been a pioneer since the very beginning. Its history is marked by historic "firsts" that defined the Indian petroleum industry. In 1889, the company discovered Asia’s first oil well, followed by the discovery of independent India’s first oil field at Naharkatiya in 1953. Today, OIL operates a massive 1,157 km crude oil pipeline network with a throughput of over 6 MMT. Other technological feats include drilling India’s deepest onshore well and commissioning Asia’s first COCP plant.

Global Presence and Strategic Assets

While OIL is a household name in India, its operations span across the globe. The company manages over 61,000 sq. km. of acreage within India under NELP and OALP blocks and maintains a strategic international footprint. OIL’s presence is currently felt in 7 countries, including Russia, Venezuela, Nigeria, Mozambique, Libya, Gabon, and Bangladesh. Its total international acreage covers nearly 39,624 sq. km. of exploratory and producing assets.

Leading the Green Energy Revolution

In line with India’s climate goals, Oil India Limited is aggressively diversifying into renewable and low-carbon energy sources. The company has set an ambitious target to achieve Net Zero Carbon Emissions by 2040. Sustainability highlights include the commissioning of India’s first 100 kg green hydrogen pilot plant in 2022. Additionally, OIL operates 174 MW of wind energy projects and 14 MW of solar capacity, with a growing focus on Compressed Biogas (CBG).

Financial Strength and Performance (FY 2023–24)

OIL continues to demonstrate robust financial health, contributing significantly to the national exchequer. In the 2023–24 financial year, the company reported a total revenue of ₹24,514 crore and a Profit After Tax (PAT) of ₹5,552 crore. Furthermore, the company contributed ₹1,193 crore in taxes, proving its status as a high-performing Maharatna giant.

Strategic Investments and Future Vision

OIL’s growth is amplified by its strategic stakes in key energy subsidiaries. Most notably, the company holds a 69.63% controlling stake in Numaligarh Refinery Limited (NRL), strengthening its grip on the downstream refining sector. Through "Mission 4+," a dedicated initiative to scale up production, and a workforce of over 6,500 professionals, OIL is ensuring that India’s energy future is secure, sustainable, and inclusive.