OIL

** 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

(([email protected];))

** Shares of oil explorers Oil and Natural Gas Corp Ltd ONGC.NS and Oil India OILI.NS fall as much as 2.6% and 5.3%, respectively, tracking fall in oil prices O/R

** Downstream firms like Indian Oil Corp IOC.NS and Hindustan Petroleum Corp HPCL.NS, which benefit from lower oil prices, are up 0.4% and 2.2%, respectively.

** Nifty Energy .NIFTYENR index is up 0.2% vs Nifty 50 .NSEI up 0.3%

** Trump said over the weekend Iran was "seriously talking" with Washington, signalling de-escalation with an OPEC member after risks of a military strike drove prices to multi-month highs

(Reporting by Nandan Mandayam in Bengaluru)

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Adds details, context paragraphs 4-6

Jan 29 (Reuters) - Mozambique and TotalEnergies TTEF.PA will relaunch development of the French energy major's $20 billion liquefied natural gas plant on Thursday, nearly five years after it was put on hold following a deadly attack by Islamist militants.

Construction of the project was halted in 2021. But TotalEnergies, which has taken extra equity with its partners after some backers pulled out, said late last year it was ready to resume work at the site in the northern province of Cabo Delgado.

Mozambique's President Daniel Chapo and TotalEnergies CEO Patrick Pouyanne were due to attend a ceremony marking its relaunch, the government said.

"The resumption of the project ... represents a significant milestone for the national economy and reaffirms the confidence of international partners in the energy, institutional and human potential of Mozambique," a statement from Chapo's office said.

Total confirmed the government's announcement but declined to provide further details.

SECURITY HAS IMPROVED, BUT COSTS HAVE RISEN

Security has improved in Cabo Delgado, particularly with the special deployment of Rwandan soldiers around the Afungi construction site. The Islamist insurgency, though weakened, continues to simmer, however.

With capacity to produce 13 million metric tons of LNG annually, the project is expected to make Mozambique a major gas exporter, transforming the poor African nation's economy when it begins producing in 2029. But it has been dogged by security, finance and human rights issues that have spooked some investors.

In October, TotalEnergies wrote to Chapo estimating that the project's costs had risen by $4.5 billion in the years it had been on hold. It said the consortium wanted the development and production period extended by 10 years as partial compensation.

It is unclear whether these extra cost issues have been resolved after Chapo said Mozambique had "counter-arguments" to this amount.

TotalEnergies has a 26.5% stake in the Mozambique LNG consortium. Japan's Mitsui owns 20%, with ENH at 15%, and Bharat Petroleum, Oil India, and ONGC Videsh all on 10%. Thailand's PTTEP holds the remaining 8.5% stake.

(Reporting by Custodio Cossa and Wendell Roelf;
Additional reporting Sfundo Parakozov in Johannesburg and America Hernandez in Paris;
Editing by Alexander Winning and Joe Bavier)

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** Shares of Indian upstream oil companies ONGC ONGC.NS and Oil India OILI.NS rise 6.2% and 7.3%, respectively

** Oil prices rose 3% on Tuesday as winter storm disrupts U.S. crude output and exports O/R

** ONGC supported by JVs' shipbuilding contract with Samsung Heavy Industries for two Indian-flag ethane carriers

** Over 18 mln ONGC shares trade on the day, 2x the 30-day-avg vol; OILI trading volume around 10x 30-day-average

** ONGC up about 3% so far in Jan, while OILI gains around 6%

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

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

• INDIA'S NUMALIGARGH REFINERY EXEC: TO COMMISSION EXPANDED REFINERY CAPACITY OF 180,000 BPD BY END OF 2026

• NUMALIGARGH REFINERY EXEC: EXPECT THE REFINERY TO OPERATE FULLY AT EXPANDED CAPACITY BY 2027-28

Source text: [ID:]

Further company coverage: OILI.NS

(([email protected];;))

Adds details, background throughout

NEW DELHI, Jan 23 (Reuters) - India's Bharat Petroleum Corp Ltd BPCL.NS will buy 12 million oil barrels for $780 million from Brazil's Petrobas PETR3.SA in fiscal 2027, twice the size of its 2026 contract, to partly replace Russian oil, a government statement said on Friday.

Indian refiners are redrafting their oil import strategies, buying more oil from Middle Eastern, African and South American countries to make up for a reduction in Russian oil supplies.

The deal between the Indian state-run refiner and Brazil's national oil company will be signed next week at the India Energy Week conference, the statement added.

OTHER PACTS

During the four-day conference beginning Jan 27, state-run Numaligarh Refinery Ltd (NRL) will also sign a preliminary deal with France's TotalEnergies TTEF.PA to build a 200 kilo tons per year sustainable aviation fuel project at Paradip in eastern Odisha state.

Additionally, NRL and explorer Oil India Ltd OILI.NS will sign a preliminary deal with TotalEnergies to buy liquefied natural gas (LNG) to meet future demand of the two Indian companies.

Separately, BharatPetro Resources Ltd - an unit of BPCL - is set to sign a pact with Shell SHEL.L to buy stakes in oil and gas companies across the world, the government statement said.

(Reporting by Nidhi Verma in New Delhi and Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman)

(([email protected]; X: @MukherjeeHritam;))

** India's upstream oil companies ONGC ONGC.NS and Oil India OILI.NS rise 1.8% and 3.6%, respectively

** Both stocks set for fourth consecutive session of gains, if current momentum holds

** Brent crude oil prices rise to seven-week high on Tuesday, before easing 0.2% on the day O/R

** Fears of disruption in Iranian oil supply boosts the commodity's prices

** Over 5 million OILI shares trade on the day, 2.5x of 30-day average volume; ONGC volumes also surpass 30-day average

** ONGC up 3.4% this year, while OILI up 10.2%

(Reporting by Vivek Kumar M)

(([email protected]))

** Indian oil marketing cos BPCL BPCL.NS, HPCL HPCL.NS and IOC IOC.NS surge 32%, 21.1% and 22.1%, respectively, in 2025

** Stocks among top 10 gainers on 41-member Nifty Energy index .NIFTYENR, which is up 0.5% for the year

** Oil prices set to fall more than 15% in 2025 as supply outpaced demand in a year marked by wars, higher tariffs and OPEC+ output and sanctions on Russia, Iran and Venezuela

** Lower oil prices boost margins of OMCs, while weighing on upstream oil companies like ONGC ONGC.NS and Oil India OILI.NS

** ONGC and OILI down 0.4% and 1.2%, respectively, in 2025

** ONGC, IOC, OILI, BPCL and HPCL up 1.7%-5.5% on Wed

(Reporting by Vivek Kumar M)

(([email protected];))

Nov 14 (Reuters) - Indian explorer Oil India OILI.NS reported a 43% slump in second-quarter profit on Friday, as crude realisations, or the price at which it sells the product, declined, while higher expenses also weighed on margins.

The state-owned firm's standalone profit, which excludes earnings from joint ventures and overseas operations, fell to 10.44 billion rupees ($118.8 million) for the quarter ended September 30 from 18.34 billion rupees last year.

The company's crude oil price realisation slid 14% to $68.19 per barrel, from $79.33 per barrel a year ago.

While fuel demand in India, the world's third biggest oil importer and consumer, rose for two out of the three months in the July-September quarter, the company's revenue from operations fell 1.1% on-year to 54.57 billion rupees.

Prices of global brent crude oil LCOc1 were down 0.25% in the quarter.

The company's total expenses also jumped about 22% to 49.7 billion rupees, while operating margin for the quarter shrunk to 13.69% from 30.43% a year earlier.

Oil India's shares dropped 4.7% during the July-September quarter, while larger peer ONGC ONGC.NS fell nearly 2%.

($1 = 87.8950 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Eileen Soreng)

(([email protected]; +91 8697274436;))

Oct 28 (Reuters) - Oil India Ltd OILI.NS

• OIL INDIA CHAIR: CO SEEKING LEGAL OPINION ON STAKE IN SANCTIONED RUSSIAN OIL FIELDS

• OIL INDIA CHAIR: OIL INDIA'S $300 MILLION DIVIDEND FOR STAKE IN RUSSIAN FIELD STUCK IN BANKS IN RUSSIA

Further company coverage: OILI.NS

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

• OIL INDIA - CO AND NEEPCO SIGN 15-YEAR GAS SUPPLY AGREEMENT

• OIL INDIA - INKS GAS SALE AGREEMENT WITH NEEPCO FOR 1.4 MMSCMD SUPPLY

Source text: ID:nBSE79cqc3

Further company coverage: OILI.NS

(([email protected];;))

** Shares of Oil India Ltd OILI.NS rise as much as 3.1% to 410.25 rupees

** Crude oil and natural gas producer reports occurrence of natural gas in Andaman shallow offshore block

** Adds, preliminary analysis has confirmed presence of natural gas

** More than 1.4 mln shares traded as of 10:52 a.m. IST, nearly their 30-day moving avg of over 1.8 mln shares

** Average rating on stock by 19 analysts is "buy"; median PT is 517.5 rupees - data compiled by LSEG

** OILI last up 1.9% vs 1% gain in Nifty energy index .NIFTYENR

** YTD, OILI down 4.8% vs 0.02% advance in subindex

(Reporting by Meenakshi Maidas in Bengaluru)

(([email protected];))

Sept 25 (Reuters) - Indian refiners' crude throughput declined 4.4% month-on-month in August to 5.27 million barrels per day (22.29 million metric tons), according to provisional government data released on Thursday.

Refinery throughput in July was at 5.51 million barrels per day (23.31 million metric tons).

On a year-on-year basis, refinery throughput rose 3% in August.

India's fuel consumption in August hit an 11-month low, slipping 3.8% month-on-month to 18.73 million metric tons, oil ministry data showed.

India is the world's third-biggest oil importer and consumer.

Meanwhile, Indian oil refiners are increasing gasoline and diesel exports to their highest levels in several years, driven by expanded crude processing capacity and increased domestic ethanol blending that has freed up fuel supplies for overseas markets, traders and analysts said.

This year, India's crude processing is expected to increase by 130,000 to 160,000 barrels per day to about 5.51 million bpd, with gasoline exports hitting a record high of around 400,000 bpd, according to consultancy Wood Mackenzie.

In July, European Union countries approved an 18th sanctions package against Russia over its war in Ukraine, with a lower price cap on Russian oil.

The rise in Indian exports is expected to help meet Europe's winter heating oil demand and support Indian refining margins, after refiners turned to discounted Russian crude.

REFINERY PRODUCTION IN TERMS OF CRUDE THROUGHPUT (in 1,000 tons):

Source: Ministry of Petroleum and Natural Gas

IOC: Indian Oil Corp IOC.NS

BPCL: Bharat Petroleum Corp Ltd BPCL.NS

HPCL: Hindustan Petroleum Corp Ltd HPCL.NS

CPCL: Chennai Petroleum Corp Ltd CHPC.NS

MRPL: Mangalore Refinery and Petrochemicals Ltd MRPL.NS

Reliance Industries Ltd RELI.NS

Please note that CPCL's CBR refinery is de-commissioned under shutdown due to limitation in meeting required product specifications with the existing configuration.

(Reporting by Noel John in Bengaluru; Editing by Sonia Cheema)

(([email protected];))

** Shares of Hindustan Copper HCPR.NS jump 6.7% to 301.68 rupees

** Co signs pact with state run Oil India OILI.NS to explore critical minerals, including copper and associated minerals, on Friday

** OILI shares up 1.5%

** Also signs deed for 20 more year to reopen and expand Rakha copper mine in the eastern state of Jharkhand on Friday

** After a 20-year shutdown, co appointed South West Mining Limited to reopen and develop the copper mine in January

** More than 28.7 million shares traded, almost 5.5x times their 30-day avg

** YTD, HCPR up 22%

(Reporting by Urvi Dugar)

(([email protected]))

Sept 19 (Reuters) - Oil India Ltd OILI.NS:

• CO AND RVUNL SIGN JVA FOR 1.2 GW RENEWABLE PROJECTS

Source text: ID:nBSE5hC6Fv

Further company coverage: OILI.NS

(([email protected];))

By Nidhi Verma

NEW DELHI, Sept 18 (Reuters) - India's state-run Oil India Ltd OILI.NS expects a $20-billion, TotalEnergies-operated Mozambique liquefied natural gas project in which it owns a stake to restart development by the end of this year, its chairman Ranjit Rath said on Thursday.

TotalEnergies TTEF.PA halted construction of the project and imposed force majeure in 2021 following a deadly attack on the site by Islamic State-linked insurgents.

"With improved security conditions, the project is expected to restart in the second half of 2025 and is well-positioned to meet the growing demand of the Indian gas market," Rath said at its annual shareholder meet.

TotalEnergies CEO Patrick Pouyanne said in June he expected development to resume "this summer".

TotalEnergies is the project operator with a 26.5% stake, followed by Mitsui & Co 8031.T with 20%, while Mozambique's state-owned ENH has 15%.

Indian state firms ONGC Videsh, Bharat PetroResources and Oil India together hold 30% in the project, with Thailand's PTTEP PTTEP.BK owning the remainder.

Explorer Oil India also holds a minority stake in the Vankorneft and Taas-Yuryakh projects in Russia.

Rath said Oil India has received dividends equivalent to 91% of its investment in the Russian projects.

"A highlight of the year was the robust dividend flow from Russian assets, amounting to $942 million, representing over 91% of our original investment in Vankorneft and Taas-Yuryakh, with full recovery expected in the coming year," he said.

(Reporting by Nidhi Verma; Editing by Joe Bavier)

(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))

MUMBAI, Sept 17 (Reuters) - A unit of Oil India OILI.NS plans to raise 50 billion rupees ($569 million), which includes a greenshoe option of 40 billion rupees, through the sale of 10-year bonds, two merchant bankers said on Wednesday.

Numaligarh Refinery in the state of Assam has invited coupon and commitment for its debut bond issue on Monday, they said.

In August, Reuters had reported that the company is planning to raise funds through bond issue in September.

The company did not respond to an email seeking comment.

Here is the list of deals reported so far on September 17:

*Size includes base plus greenshoe for some issues

($1 = 87.8730 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sumana Nandy)

(([email protected]))

** India's Nifty Oil & Gas .NIFOILGAS and Nifty Energy .NIFTYENR indexes are down 0.87%, while the broader NSE Nifty 50 index .NSE is up 0.15%

** India government raised tax rates on oil and gas exploration, production, and pipeline services from 12% to 18%

** Higher GST rate will make exploration and production projects — particularly coal-bed methane initiatives — less competitive, creating headwinds for efforts aimed at boosting domestic output and reducing import dependence, says Dhaval Popat, energy analyst at Choice Institutional Equities

** 11 of 15 stocks in Nifty Oil & Gas index, and 35 of 40 stocks in Nifty Energy index are trading lower

** India's top oil explorers, Oil India OILI.NS and ONGC ONGC.NS, which are constituents of both oil & gas and energy indexes, are down 2.1% and 1.2%, respectively

** YTD, Nifty Oil & Gas up 1.7%, Nifty Energy down 2.5%

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

By Dharamraj Dhutia

MUMBAI, Aug 29 (Reuters) - A unit of Oil India OILI.NS is likely to raise around 50 billion rupees ($565 million) through the sale of short-term bonds next month, two merchant bankers said on Friday.

Numaligarh Refinery, based in the state of Assam, is looking to issue its debut notes with a maturity of three years to five years, the bankers, who are aware of the matter, said.

The company did not respond to an email seeking comment, while the bankers requested anonymity as the matter is private.

"The company could tap the market in September, and if the need arises, it could also go for a two-tranche issue," one of the bankers said.

The bonds have been rated 'AAA' by Crisil and India Ratings.

The issuance comes at a time when Indian firms have raised a record quantum of funds in the first five months of this financial year.

($1 = 88.28 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)

(([email protected];))

Aug 26 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA LTD - CO AND BPCL EXECUTE JV AGREEMENT FOR GAS DISTRIBUTION

• OIL INDIA - JV FOR CITY GAS DISTRIBUTION IN ARUNACHAL PRADESH

• OIL INDIA LTD - JVC TO CREATE GAS DISTRIBUTION NETWORK IN ARUNACHAL PRADESH

• OIL INDIA LTD - CO AND BPCL EXECUTE JV AGREEMENT FOR GAS DISTRIBUTION

Source text: ID:nBSE4Ypm2H

Further company coverage: OILI.NS

(([email protected];;))

** Crude oil and natural gas producer Oil India OILI.NS falls ~2% to 416.65 rupees after Q1 results

** State run firm's standalone net profit falls 45% y/y due to softer oil prices, while revenue declines 14%

** CLSA says standalone profit was a "big miss", driven by higher than estimated costs due to drywell write- offs and a one time impairment charge

** Stock rated "buy" on avg by 20 analysts, with median PT of 515 rupees implying an upside of ~24% to the current stock price, as per data compiled by LSEG

** YTD, stock down ~4%

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

Aug 12 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA Q1 PROFIT 8.13 BILLION RUPEES; IBES EST. 13.2 BILLION RUPEES

• OIL INDIA Q1 REVENUE FROM OPERATIONS 50.12 BILLION RUPEES

Source text: [ID:]

Further company coverage: OILI.NS

(([email protected];;))

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

• OIL AND IREL SIGN MOU TO COLLABORATE ON RARE EARTH AND CRITICAL MINERALS

• COLLABORATION WILL PLAY VITAL ROLE IN SECURING STRATEGIC MINERAL RESOURCES

Further company coverage: OILI.NS

(([email protected];;))

- Source link: (https://bitl.to/4s7e)

- Note: Reuters has not verified this story and does not vouch for its accuracy

(Bengaluru newsroom)

(([email protected]; +91 80 6749 1310;))

By Sethuraman N R

July 21 (Reuters) - India's Numaligarh Refinery Ltd (NRL) has extended the deadline for submitting bids for its green hydrogen project in Assam by two weeks, according to a tender document, as uncertainty looms over the state's flagship clean energy policy.

NRL, owned by explorer Oil India OILI.NS, has extended the last bid submission date to August 6 from July 23 without citing a reason for the extension, per the document seen by Reuters.

Last week, Reuters reported that the northeastern state of Assam had paused its green hydrogen policy, surprising investors who were already grappling with reduced incentives for renewable energy projects.

The delay has prompted companies to reassess their investment plans worth billions of rupees in the region that has historically lagged behind in clean energy adoption, Reuters had reported, citing sources.

Last week, Harit Molecules Foundation (HMF), an industry body representing green hydrogen project developers in India, wrote to NRL seeking an extension to submit bids for NRL's 10,000-metric-tonnes-per annum green hydrogen generation project at the Assam refinery, per an email seen by Reuters.

The HMF sought the extension citing a lack of clarity on incentives applicable to the project and the complex nature of the project.

NRL and Harit Molecules Foundation did not respond to requests for comment.

NRL had announced the green hydrogen tender last year and it is among the top tenders floated in the country to boost clean energy adoption.

Green hydrogen, produced using renewable electricity, is seen as a key tool in decarbonising heavy industries and transport.

Assam in February announced several incentives to attract clean energy investments into the state, but in June, it sharply reduced transmission subsidies and increased bank guarantees without giving reasons.

Multiple industry and government sources had told Reuters that the state was coming out with a new green hydrogen policy by July-end.

(Reporting by Sethuraman NR; Editing by Devika Syamnath)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Refiners Indian Oil Corp IOC.NS rises 3.5%, Hindustan Petroleum HPCL.NS gains 4.3%, Bharat Petroleum BPCL.NS climbs 3.1%, Reliance Industries up 1%

** Crude oil prices fell as Donald Trump announced a ceasefire between Iran and Israel, relieving worries of supply disruption O/R

** Crude prices have tumbled more than 9% in the last two sessions after Iran refrained from disrupting oil supplies through Strait of Hormuz

** Meanwhile, Oil India OILI.NS and Oil and Natural Gas Corp ONGC.NS decline 4% and 2.3%, respectively, tracking fall in oil prices

** Lower crude prices benefit refiners, while negatively impacting explorers

** Reliance top gainer among refiners; gains 21% YTD

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected] ))

June 23 (Reuters) - Aakash Exploration Services Ltd AAKA.NS:

• RECEIVES LOI FROM OIL INDIA FOR HP MOBILE BOILER SERVICES

• CONTRACT SIZE ABOUT 337 MILLION RUPEES

Source text: ID:nNSE2Y7gxw

Further company coverage: AAKA.NS

(([email protected];;))

** Shares of oil explorers, Oil India OILI.NS and Oil and Natural Gas Corp ONGC.NS gain 0.9% and 1.2%, respectively

** Brent crude futures LCOc1 were up on the day after gaining 7% on Friday as renewed strikes by Israel and Iran over the weekend increased concerns that the conflict could widen across the Middle East, fueling worries around oil export disruptions O/R

** JM Financial maintains "buy" on OILI and ONGC; says the firms are key beneficiaries of high crude prices

** Adds higher crude prices will likely boost OILI, ONGC earnings, with 15% and 25% production growth estimated in next 2-to-3 years

** ONGC top gainer on Nifty energy index .NIFTYENR, which is up 0.69%

** Year-to-date, OILI, ONGC up ~12%, 6% vs 2% rise in .NIFTYENR

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))