News for Oil India Limited (OIL.BO)

Assam Cabinet has approved exemptions for hydrocarbon exploration, streamlining land availability and boosting energy security. Financial sanction of Rs. 342 crores was approved for tea garden workers' financial assistance scheme, benefiting around 7 lakh workers. Land leases were granted to Global Health Ltd., Lineage Healthcare Ltd., and RJ Corp Ltd. to incentivize healthcare and hotel infrastructure development.

Assam achieves a milestone in energy security. The state government is now a direct oil producer. Oil India Limited discovered hydrocarbons in Namrup Borhat-1 well. The government holds a significant stake. Hydrocarbon presence is established in Kobochapori. Further studies are underway to assess commercial viability. Additional seismic surveys and drilling are planned. This ensures energy availability for the country.

Assam is poised to become India's first state government to directly engage in oil production following a hydrocarbon discovery in the Namrup Borhat-1 well. Chief Minister Himanta Biswa Sarma hailed this as a significant stride towards energy security and economic strength for the state.

Assam Chief Minister Himanta Biswa Sarma announced Oil India Limited's hydrocarbon discovery in the Namrup Borhat-1 well in Dibrugarh district. The Assam government holds a significant stake in this well. Sarma hailed the discovery as a major boost for energy security and economic strength, positioning Assam as a direct oil producer.

Assam becomes India’s first state to produce oil directly as OIL discovers hydrocarbons in Namrup Borhat-1 well. CM Sarma hails it as a proud, historic moment.

Oil India and GAIL India have extended their gas sale agreement for 15 years, effective July 1, 2025. Oil India will supply up to 900,000 SCMD of natural gas from its Rajasthan fields to GAIL, who will transport it for electricity generation by RRVUNL. This collaboration highlights the companies' commitment to domestic gas production and distribution.

In Longding district, Arunachal Pradesh, Assam Rifles troops neutralized a suspected NSCN (K-YA) militant during a clash near the India-Myanmar border. The troops were conducting routine patrolling when they were ambushed by insurgents, prompting a forceful retaliation. Security forces recovered a substantial cache of explosives, weapons, and military supplies from the militant's hideout.

Equity indices show marginal gains amid US-India trade deal, FII selling pressure; sectoral indices mixed, Nifty gainers and losers highlighted.

ONGC to cap leaking oil well in Sivasagar district after failed emergency measures, US experts to assist.

India is ramping up fossil-based energy production, exploring untapped seabeds in the Andaman region for potential oil and gas reserves.

Indian benchmark indices ended in the green on Monday, supported by gains in IT and financial stocks, after two sessions of declines triggered by tensions between Israel and Iran. Investor sentiment improved as global markets showed signs of resilience and oil prices cooled from last week's spike.

Share prices of ONGC and Oil India surged on Monday as heightened tensions between Israel and Iran have propelled global crude oil prices, benefiting upstream producers. Conversely, share prices of oil marketing companies such as IOCL, BPCL and HPCL and tyre manufacturers like MRF, JK Tyre & Industries and CEAT faced declines due to concerns over rising input costs.

Benchmark indexes pause amid Israel-Iran conflict, with Nifty 50 up 0.18% and BSE Sensex rising 0.15%. Geopolitical uncertainty persists.

Indian benchmark indices Sensex and Nifty50 closed lower on Friday, mirroring sharp declines across Asian markets as Israels military strikes on Iran intensified geopolitical tensions in the oil-sensitive Middle East.

Following Israel's airstrikes on Iran, oil prices surged, triggering concerns about geopolitical instability and potential supply disruptions. Reliance Industries and Indian oil marketing companies experienced declines due to rising crude costs. Market volatility increased as investors sought safe-haven assets amid fears of prolonged conflict and its economic consequences.

Sensex tanked 656.65 pts or 0.80% to 81,035.33 as at 1.30 pm after hitting a low of 80,354.59, and Nifty 50 depreciated 187.65 pts or 0.75% to 24,700.55

Shares of Oil and Natural Gas Corporation (ONGC) climbed 3.2% to Rs 255.15 on the BSE, while Oil India surged up to 5% to Rs 488.80. The rally followed a more than 4% overnight jump in global oil prices, reaching their highest levels since early April, driven by concerns over potential supply disruptions in the Middle East.

The NSE Nifty index was trading 38.31 points down at 25103.1

Indian markets traded cautiously amid global uncertainty surrounding the U.S.-China trade situation. While some sectors like pharma and financials saw gains, IT stocks faced pressure due to trade truce concerns. Experts suggest the market may remain range-bound due to a lack of positive triggers and escalating geopolitical tensions, including rising crude oil prices and potential tariff actions.