Oil India

By Nidhi Verma

NEW DELHI, Sept 17 (Reuters) - Oil India is exploring ways to repatriate a $300 million dividend for its stake in two Russian assets which is stranded in Moscow, its chairman Ranjit Rath told shareholders on Thursday.

• State-run explorer Oil India, along with Indian Oil Corp IOC.NS and Bharat PetroResources, holds a 23.9% participating interest in JSC Vankorneft and a 29.9% stake in Tass Yuryakh Neftegazodobycha.

• "It is only a matter of time. We will be able to find a solution to transfer the amount," Rath said, adding the dividend is in the Moscow branch of State Bank of India SBI.NS. The dividend is stuck because of western sanctions on Russian entities and banks relating to Moscow's invasion of Ukraine. Rath did not elaborate how his company will get back the stranded money.

• Rath also said Numaligarh Refinery Ltd, a unit of Oil India, will commission a 120,000 barrel-per-day crude unit at its plant in the northeastern state of Assam by March, lifting its overall crude processing capacity to 180,000 bpd.

• Rath said the 1,635-kilometre crude pipeline Oil India is laying from Paradip port in eastern Odisha state to its refinery in Assam will be commissioned by the end of 2026.

• Oil India has exited from exploration projects in Gabon and Bangladesh, Rath said.

• Oil India exports diesel to Bangladesh from its Numaligarh refinery through a pipeline. Rath said supplies to Bangladesh are continuing and there is no payment backlog.

(Reporting by Nidhi Verma; Editing by Alexander Smith)

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NEW DELHI, Aug 17 (Reuters) - India's state-owned Khanij Bidesh India Limited (KABIL) is expected to start lithium extraction in Argentina in the next four to five years after completing project feasibility, a parliamentary panel report on its operations said.

In 2024, KABIL signed a 2 billion-rupee ($20.92 million) lithium exploration pact for five blocks in Argentina.

• The government of Catamarca in Argentina has offered seven additional greenfield lithium brine blocks under the existing agreement, which KABIL is evaluating, according to the report.

• KABIL is in the process of signing a preliminary agreement with the Ministry of Production and Mining of the Province of Salta, Argentina and Energy and Mining Resources Salta SA to collaborate on lithium projects in Salta.

• Discussions are also underway for obtaining two greenfield lithium brine projects in Jujuy province.

• Two additional projects are being evaluated by KABIL and Oil India and KABIL and Indian Oil Corp.

• KABIL flagged delays in Argentina because of lack of expertise in handling lithium brine deposits.

• In Australia, KABIL, along with Oil India, Coal India and NLC India was evaluating two lithium projects.

• The panel confirmed a Reuters report that KABIL's lithium project in Mali with Uranium One Group, a subsidiary of Rosatom, was kept on hold due to "recent socio-political instability".

• KABIL is also in talks with Malawi Mining Investment Company for critical mineral projects in Malawi.

• KABIL is evaluating investment opportunities in Brazil, Canada, Russia, Indonesia, among others and looking at rare earths.

• The panel observed "limited progress" in securing overseas mineral assets and "prolonged timelines" in moving from negotiations to actual acquisition and production.

($1 = 95.6125 Indian rupees)

(Reporting by Rajesh Kr. Singh and Neha Arora; editing by Alexandra Hudson)

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NEW DELHI, Aug 16 (Reuters) - India has set a maximum daily cooking gas production target of 63,810 metric tons for state-run and private refineries to ensure domestic supplies and build buffers after U.S.-Israeli war against Iran disrupted supplies of the essential fuel, according to an August 13 government order.

Here are more details from the order:

• Companies are required to maintain adequate infrastructure for storing and transporting liquefied petroleum gas (LPG), either directly or through railways and road tankers, to meet specified quantities.

• The federal government will update the targets every January and July to reflect new production and additional output from existing refineries.

• India was buying about 90% of its cooking gas imports from the Middle East before the war on Iran disrupted supplies from March due to the blockade of the Strait of Hormuz.

• India has set production targets for individual refiners with Reliance Industries Ltd's RELI.NS domestic-market-focused refinery tasked to produce 18,000 tons a day of LPG.

• State-run explorers Oil and Natural Gas Corp ONGC.NS and Oil India Ltd OILI.NS, and gas utility Gail India Ltd GAIL.NS are expected to contribute 10% of the nationwide target.

(Reporting by Nikunj Ohri and Nidhi Verma; Editing by Christian Schmollinger)

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** Shares of Oil India OILI.NS rise 2.53% to 454.20 rupees

** Stock on track to snap five sessions of losses

** State-owned firm's standalone Q1 profit, which excludes profit from its joint ventures and operations outside the country, rose more than three-fold y/y to 28.70 billion rupees ($301.37 million)

** Motilal Oswal ("neutral", TP: 441 rupees) says profit beat its estimate by 12%, helped by higher-than-expected oil realisations and strong performance at co's Numaligarh refinery

** OILI rated "buy" on average by 21 analysts, median PT at 525 rupees - LSEG compiled data

** YTD, stock up 6.98%

($1 = 95.2325 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

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Aug 7 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA Q1 PROFIT 28.7 BILLION RUPEES

• OIL INDIA Q1 REVENUE FROM OPERATIONS 79.58 BILLION RUPEES

Source text: [ID:]

Further company coverage: OILI.NS

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Aug 5 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA - GOVERNMENT OF ASSAM HAS RAISED TAX DEMAND OF 24.85 BILLION RUPEES FOR THE YEARS 2005-2024

Source text: ID:nBSE2v0WxT

Further company coverage: OILI.NS

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July 30 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA - SIGNS MOU WITH MCD TO ESTABLISH COMPRESSED BIO-GAS PLANTS IN DELHI

Source text: ID:nNSE4wbWMD

Further company coverage: OILI.NS

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** Upstream oil producers ONGC ONGC.NS and Oil India OILI.NS rise as much as 2.1% and 3.1%, bucking the broader trend

** Benchmarks Nifty 50 .NSEI and Sensex .BSESN slip 0.5% and 0.6%

** Brent crude LCOc1 rises 2.5% to top $90 a barrel as the U.S., Iran expand strikes, restricting oil shipments through the Strait of Hormuz O/R

** Upstream oil producers benefit from higher crude as it improves the revenue realisations and profitability

** ONGC up 4% and OILI rises 5.1% in 2026 so far, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

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July 2 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA CHAIR: TO COMMISSION 9 MTPA NUMALIGARH REFINERY IN EARLY 2027

• OIL INDIA CHAIR: TO IMPORT 5.5-6 MILLION TON/YEAR OIL FOR NUMALIGARH REFINERY

• OIL INDIA CHAIR: NUMALIGARH REFINERY TO MAINLY PRODUCE DIESEL, GASOLINE

• OIL INDIA CHAIR: TO SELL FUELS FROM NUMALIGARH REFINERY IN LOCAL MARKET

Source text: [ID:]

Further company coverage: OILI.NS

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** Nomura touts Indian oil marketing companies, city gas distributors and Petronet LNG as biggest beneficiaries if Strait of Hormuz reopens, crude prices continue to ease

** Says crude could fall below $70 per barrel over the next few months if sanctions on Iran are lifted and oil flows normalise

** On Tuesday, IOC shares rise 0.27%, BPCL gains 0.13%, HPCL up 0.49%, PLNG advances 0.49%, RELI up 1.64% and ONGC up 0.88%

KEY STOCK IMPACT OF IRAN PEACE DEAL

Source: Nomura Research

(Reporting by Surbhi Misra in Bengaluru)

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June 9 (Reuters) - Kellton Tech Solutions Ltd KELL.NS:

• KELLTON TECH SOLUTIONS - LAUNCHES LARGE-SCALE DIGITAL WELLHEAD MONITORING FOR OIL INDIA

Source text: ID:nBSE6zzNss

Further company coverage: KELL.NS

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June 5 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA - REPORTS PRESENCE OF NATURAL GAS IN 3RD EXPLORATORY WELL IN ANDAMAN BLOCK

• OIL INDIA - PRELIMINARY ASSESSMENT INDICATES HYDROCARBON ACCUMULATION POTENTIAL

Source text: ID:nBSE4wM1MT

Further company coverage: OILI.NS

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June 4 (Reuters) - Oil India Ltd OILI.NS:

• SOUTH WEST PINNACLE EXPLORATION - EMPANELLED BY OIL INDIA FOR 2D/3D SEISMIC DATA SERVICES

Source text: ID:nNSEcgR7LJ

Further company coverage: OILI.NS

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May 28 (Reuters) - Likhitha Infrastructure Ltd LIKI.NS:

• LIKHITHA INFRASTRUCTURE - RECEIVES ORDER WORTH 1.21 BILLION RUPEES FROM OIL INDIA

Source text: ID:nBSE84r70m

Further company coverage: LIKI.NS

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May 27 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA - UNIT AND HINDUSTAN WASTE TREATMENT SIGN JV AGREEMENT FOR BIOENERGY AND SUSTAINABLE RESOURCE RECOVERY INITIATIVES

Further company coverage: OILI.NS

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May 13 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA MARCH-QUARTER PROFIT 17.9 BILLION RUPEES

• OIL INDIA MARCH-QUARTER REVENUE FROM OPERATIONS 59.61 BILLION RUPEES

Further company coverage: OILI.NS

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** India's Nifty 50 .NSEI and Sensex .BSESN down about 1% each, while rupee INR=IN slides to record low on higher crude prices and persistent foreign outflows due to Mideast tensions

** Twelve of 16 major sectors decline; small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 lose 1.6% and 1.1%, respectively

** IT index .NIFTYIT, which earns a significant share of revenue from U.S., drops 3.6% to three-year low on weak earnings outlook and demand concerns

** TCS TCS.NS, Infosys INFY.NS, HCLTech HCLT.NS and Wipro WIPR.NS fall 3%-5% ahead of U.S. inflation data, with renewed rate-hike expectations likely to rattle markets
** India CPI data also due later in the day

** Brent crude near $105 a barrel; Trump says ceasefire on "life support" after Tehran's response exposes gaps between the two sides

** ONGC ONGC.NS and Oil India OILI.NS rise 6.6% and 9.2% after CLSA flags gains from royalty cuts on crude oil and gas output

** Metals .NIFTYMET gain 1%, tracking global metal prices on supply worries MET/L

(Reporting by Bharath Rajeswaran in Bengaluru)

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Updates for market close

By Bharath Rajeswaran

April 28 (Reuters) - Indian shares declined on Tuesday, as higher crude prices hurt sentiment and banking stocks came under pressure after the Reserve Bank of India's final credit-loss guidelines.

Brent crude LCOc1 rose above $110 a barrel as efforts to end the Middle East war appeared to have stalled. O/R

Higher oil prices are a negative for India, the world's third-largest crude importer, due to heightened inflation risks and pressure on economic growth and corporate earnings.

The Nifty 50 .NSEI fell 0.4% to 23,995.70, while the BSE Sensex .BSESN shed 0.54% to 76,886.91.

Both benchmarks rose about 0.3% in the first hour, but reversed course ahead of the monthly derivatives expiry.

Ten of the 16 major sectors logged losses.

High-weight banks .NSEBANK, private banks .NIFPVTBNK and state-owned lenders .NIFTYPSU lost 1.5%, 1.2% and 2.2%, respectively, after the RBI's new rules.

"The market has taken cognisance of the fact that the upcoming expected credit-loss norms could erode profitability due to higher Stage 2 provisioning," said Saurabh Jain, assistant vice president of retail equities, SMC Global.

Under the norms, Stage 2 assets are loans that have seen a significant increase in credit risk but are not yet credit-impaired.

"PSU banks are likely to feel a sharper pinch than their private-sector peers."

Most private-sector banks already provision conservatively for overdue loans and maintain contingent buffers, while state-owned lenders typically do not.

The new norms could raise provisioning requirements more sharply for PSU banks.

Meanwhile, top carmaker Maruti Suzuki MRTI.NS fell 2.5% after posting a quarterly profit drop due to higher raw material costs. Auto index .NIFTYAUTO lost 1%.

Coal India COAL.NS climbed 3.2% after reporting a larger-than-expected quarterly profit.

ONGC ONGC.NS and Oil India OILI.NS added 5.4% and 4.5%, respectively, as higher crude prices boosted the earnings outlook for upstream companies.

On the flip side, the broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 rose 0.4% and 0.3%, aided by upbeat earnings in key constituents.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sumana Nandy, Nivedita Bhattacharjee and Harikrishnan Nair)

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April 27 (Reuters) - Oil India Ltd OILI.NS:

• HYDROCARBON DISCOVERY IN OVERSEAS BLOCK IN LIBYA

• CO, WITH 25% INTEREST, IS PART OF CONSORTIUM ALONG WITH IOCL IN EXPLORATION OF AREA 95/96 BLOCK

Source text: ID:nnAZN4SSWEY

Further company coverage: OILI.NS

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April 20 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA - UNIT ENTERED MOU WITH NUMALIGARH REFINERY

Source text: ID:nBSEc5SQjG

Further company coverage: OILI.NS

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** India's upstream oil firms ONGC ONGC.NS and Oil India OILI.NS up 0.3% and 0.2% respectively

** Nifty oil and gas .NIFOILGAS up 1.1%, set for third weekly gain

** Ambit Capital cites government decision to hold off on windfall taxes a key positive for sector

** Revises crude oil realisation ceiling assumption to $80/barrel from $70, upgrades earnings per share by 13%-17% for both cos

** Adds, sustained policy push to increase acreage and accelerate deepwater, offshore exploration signals support

** Says, should expedite project timelines, reduce infrastructure bottlenecks, and enable upstream players to drive stronger production growth with better capital efficiency

** Indian exploration and production companies trade at a discount to global peers due to volatility in windfall taxes, historical production disappointments and capped gas realisations

** YTD, ONGC up 18%, while OILI up ~9%; Nifty Oil & Gas down 7%

(Reporting by Pranav Kashyap in Bengaluru)

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** Explorers Oil and Natural Gas Corp ONGC.NS, Oil India OILI.NS fall as much as 4.1% and 4.3%, respectively

** ONGC biggest loser on Nifty 50 index .NSEI, which is up 3.45%

** Oil prices slide below $100/barrel as a two-week Iran ceasefire sparks relief rally, fuelled by hopes that oil and gas flows through Strait of Hormuz could resume

** Easing oil prices negatively impact realisations, margins for upstream oil companies

** YTD, ONGC up ~17%, OILI up 8%

(Reporting by Urvi Dugar in Bengaluru)

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March 30 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA - SIGNS MOU WITH CSIR-IMMT FOR JOINT RESEARCH IN CRITICAL MINERALS

Source text: ID:nNSE1yKKfJ

Further company coverage: OILI.NS

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March 9 (Reuters) - Indian refiners slumped on Monday, as the widening U.S.-Israeli war with Iran propelled crude prices to their highest in almost four years.

Indian Oil IOC.NS lost 6.6%, HPCL HPCL.NS dropped 7.5%, while BPCL BPCL.NS slid 7.1%. Reliance Industries RELI.NS shed 2%.

Brent crude LCOc1 jumped as much as 26.4% to $117.16 a barrel and was last up 23% at $114.08 by 9:15 a.m. IST. O/R

(Reporting by Yagnoseni Das in Bengaluru; Editing by Sumana Nandy)

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** Indian upstream oil companies ONGC ONGC.NS, Oil India OILI.NS rise 3% and 2%, respectively

** ONGC, OILI lift Nifty oil and gas .NIFOILGAS up 2.17% on the day

** Oil prices rose on Thursday amid growing concern over the prolonged closure of the Strait of Hormuz

** Higher oil prices lead to higher realization and profitability for upstream oil companies

** YTD, ONGC up 19%, OILI rises ~18%

(Reporting by Komal Salecha in Bengaluru)

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** Indian upstream oil companies ONGC ONGC.NS, Oil India OILI.NS rise 2.1% and 2.9%, respectively

** Oil prices rose 4% on Wednesday as traders priced in potential supply disruptions amid concerns of U.S.-Iran conflict O/R

** Downstream firms like Indian Oil Corp IOC.NS, Hindustan Petroleum Corp HPCL.NS, BPCL BPCL.NS lose between 0.8% and 1.5%

** Higher oil prices weigh on margins of oil marketing cos

** YTD, ONGC rises ~12.3%, OILI gains ~10%

(Reporting by Brijesh Patel in Bengaluru)

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Feb 11 (Reuters) - Oil India Ltd OILI.NS Exec:

• TO OPERATE 9 MTPA NUMALIGARH REFINERY AT 50% CAPACITY IN MARCH QUARTER

• ON COURSE TO CROSS LAST YEAR'S RECORD ANNUAL PRODUCTION LEVELS

• HAS OPTION TO RAISE STAKE TO OVER 10% IN PLANNED REFINERY BY BPCL IN ANDHRA PRADESH

Source text: [ID:]

Further company coverage: OILI.NS

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Feb 10 (Reuters) - Oil India Ltd OILI.NS:

• DEC-QUARTER PROFIT 8.08 BILLION RUPEES

• DEC-QUARTER REVENUE FROM OPERATIONS 49.16 BILLION RUPEES

• SECOND INTERIM DIVIDEND OF 7 RUPEES PER SHARE

Source text: [ID:]

Further company coverage: OILI.NS

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