Oil India on track for 4 MMT crude oil production this fiscal, officials state
Oil India has confirmed it is on track to meet its annual crude oil production target of 4 million metric tonnes. The company also reported a significant increase in net profit and outlined future capital expenditure plans for its subsidiary, Numaligarh Refinery.
Why it matters
As a state-owned energy explorer, Oil India's production performance is a key indicator of India's domestic energy security and industrial growth.
NEW DELHI Oil India is confident of achieving its crude oil production target of 4 million metric tonnes (MMT) in the current fiscal, with output expected to rise further in the succeeding years, company officials said during an analyst call on Friday. “The point is that we are on a path to four and are very confident that we will achieve [the same] this year. Our internal targets are a little bit more, but we are targeting four and are on that path,” officials said.
Also covering this story
One other newsroom covered this event. We read that version too.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in