News for Oil India Limited (OIL.NS)

ONGC's overseas arm applied for a sanctions waiver to access $500 million dividend from two Venezuelan projects.

Stocks including Reliance Industries, ITC, Power Grid, LTIM, Vedanta, HAL, Paytm, BSE, Federal Bank, RITES, Mankind Pharma and NCC will be in the spotlight on Tuesday, April 01.

In a significant move, state-run oil producer Oil India Limited (OIL) has finished drilling its first well in the Andaman sea while Oil and Natural Gas Corporation (ONGC) has just started drilling operations in the area, said officials.

NSCN-IM has opposed the Central government's move to explore petroleum resources in Nagaland, emphasising the importance of their sovereignty and mineral wealth. The group accuses India of divisive tactics and undermining Naga political rights, while praising the Ao Naga community's resistance to outside exploitation.

The Union Cabinet has approved Rs 10,601 Crore for the new Namrup IV Fertilizer Plant in Assam, which will enhance fertilizer security and boost industrial growth in the Northeast. The project aims to address the region's rising fertilizer demand and create direct and indirect employment opportunities.

Shares of Hindustan Petroleum Corporation (HPCL) went up 3.7%, Bharat Petroleum Corporation (BPCL) gained 3.6% and Indian Oil Corporation (IOC) rose 2.7%.

UDTL secures ₹80.84 million order from Oil India Limited for Large OD Casing Pipe, strengthening position in energy sector.

Union Petroleum Minister Hardeep S Puri announced India's plans to exceed a 20% ethanol blending target. He mentioned the establishment of a NITI Aayog committee for this initiative. Achievements include the present 19.6% blending rate and significant infrastructure projects. Assam's Chief Minister outlined the state's substantial contribution to India's energy sector, including advancements in natural gas and green hydrogen.

Petrobras signed agreements with BPCL for crude oil supply and with ONGC Videsh Ltd and Oil India Ltd for cooperation in oil and gas exploration. These strategic pacts aim to diversify India's energy sources, enhance bilateral energy cooperation, and explore opportunities in India's offshore regions, reinforcing India's energy security and Petrobras' role as a reliable supplier.

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Refinitiv StreetEvents Event TranscriptE D I T E D V E R S I O NOILI.NS - Oil India LtdQ3 2025 Oil India Ltd Earnings CallFeb 08, 2025 / 05:00AM GMT =========

The NSE Nifty 50 and BSE Sensex were trading near day's low. The benchmark indices were 0.94% and 0.90% down, respectively as of 12:58 p.m. At around noon, Brainbees Solutions Ltd., Oil India Ltd., Ola Electric Mobility Ltd., Shipping Corp. of India, Va Tech Wabag Ltd., and Varun Beverages Ltd. were trending because of significant share price movement.

Benchmark indices open flat ahead of RBI policy decision, with tech and FMCG stocks impacting market sentiment.

Chief Minister Sukhvinder Singh Sukhu laid the foundation stone for north India's first 1-MW green hydrogen plant in Solan district, Himachal Pradesh. Set to cost Rs 9.04 crore, the plant will produce 423 kilograms of green hydrogen daily, using renewable energy. This move aligns with the state's goal to become India's first green energy state by March 2026.

PSU stocks such as Chennai Petroleum Corporation Ltd (CPCL), Mangalore Refinery and Petrochemicals Ltd (MRPL), Cochin Shipyard Ltd, MMTC Ltd, ITI Ltd and Oil India Ltd have led the losers, falling 47-59 per cent.

GAIL (India) stock soars 7% after strong Q3 results, analysts divided on future prospects and target prices.

Experts in Shillong advocate for differentiated regulatory frameworks for oil and gas exploration compared to open-cast mining, considering the sectors unique challenges. The workshop, organized by MoEF&CC, emphasized collaboration and strategic project classifications to enhance energy security, balancing environmental conservation with industrial development.

Assam Minister Kaushik Rai distributed ex-gratia cheques to the families of nine individuals who died or are trapped in a coal mine accident in Dima Hasao. Along with Rs. 10 lakhs for each victim's next of kin, efforts are ongoing to recover trapped individuals. A Special Investigation Team and a judicial inquiry are being set up to address the incident.

Indian markets ended lower as IT and financial stocks dragged indices down, fueled by foreign fund outflows and cautious sentiment ahead of Q3 earnings. Global concerns over U.S. rate cuts and weak Chinese data added pressure.