OIL

June 5 (Reuters) - Asian Energy Services Ltd ASIE.NS:

• OIL INDIA EMPANELS ASIAN ENERGY SERVICES FOR 2D AND 3D SEISMIC DATA SERVICES

Source text: ID:nBSE3wH2L3

Further company coverage: ASIE.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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** Shares of ONGC ONGC.NS and Oil India OILI.NS jump 3.9% and 5.6%, respectively

** CLSA says the government's move to cut royalties on crude oil and gas production is a "big positive" for upstream firms

** Says the surprise cut could lift fair value for ONGC by 7%-9% and for Oil India by 9%-11%

** "This surprise action to cut upstream tax instead of raising it should put fears of new windfall tax to rest," CLSA says

** CLSA estimates the changes imply a blended royalty cut of about 3 percentage points for ONGC; at $80/bbl oil, this could add roughly 20 rupees–24 rupees per share to fair value

** For OILI, the all-onshore production profile means a sharper impact, with potential fair value gains of 9%-11%, CLSA says

** Adds the policy shift signals the government's intent to support upstream investment and production, reducing fears of higher taxation

** Brokerage reiterates its "high-conviction outperform" rating on ONGC

** YTD, ONGC stock jumps ~22%, OILI up ~14%; energy index .NIFTYENR gains 13%

(Reporting by Kashish Tandon 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

(([email protected];))

** 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)

(([email protected]; +919886482111;))

** 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

(([email protected];))

Adds details throughout

March 9 (Reuters) - Indian refiners slumped on Monday as a widening U.S.-Israeli war with Iran pushed Brent crude to a nearly four-year high, threatening their near-term earnings and raising the risk of further government intervention.

State-run Indian Oil IOC.NS dipped 4.6%, Hindustan Petroleum HPCL.NS slid 4.9% and Bharat Petroleum BPCL.NS dropped 5.4%, with BPCL heading for its steepest fall since June 2024.

The rout dragged the Nifty oil and gas index .NIFOILGAS down 2.7% and the energy index .NIFTYENR 2.1% lower, while the benchmark Nifty 50 .NSEI slid 2.8%. The oil and gas index has fallen 6.6% since the U.S.-Israeli strike on Iran last week.

India's top refiner Reliance Industries RELI.NS was down 0.4% after slipping 2.5% earlier.

UBS said Indian oil marketing companies are exposed to the crude spike because their fuel sales far exceed their production - roughly double for IOC and BPCL, and even more for HPCL.

The brokerage downgraded IOC and BPCL to "neutral" and HPCL to "sell" from "buy".

It also reduced fiscal 2027 profit estimates by 19% for IOC, 15% for BPCL and 46% for HPCL.

RISKS OF PROLONGED CONFLICT

Oil prices surged about 26% to $119.5 per barrel - the highest since July 2022 - as some major producers cut supplies and fears ​of prolonged shipping disruptions gripped the market.

Iraq and Kuwait have begun reducing oil output, adding to earlier liquefied natural gas (LNG) cuts from Qatar as the war disrupted shipments out of the Middle East.

Citi on Monday warned refiners' earnings will hinge on how long the geopolitical shock persists, flagging risks from any potential closure of the Strait of Hormuz and shutdowns in Qatar's LNG output - each supplying roughly half of India's crude and LNG needs.

India, the world's second-biggest importer of LPG, consumed 33.15 million metric tons of the cooking gas last year, with imports meeting about two-thirds of demand. Middle Eastern suppliers account for 85%-90% of India's LPG inflows.

New Delhi on Friday invoked emergency powers directing refiners to maximise liquefied petroleum gas production to prevent a cooking-gas shortage following supply disruptions.

Prolonged turmoil could force additional government intervention, including export curbs, duties on refined products or direct budgetary support, Citi added.

Meanwhile, Indian companies raised LPG prices for the first time in about a year on Friday, tracking global benchmarks as the war crimps flows from the Middle East.

India imports more than 80% of its crude oil needs and is the world's third largest oil importer.

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

(([email protected]; 8800437922; [email protected];))

** 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)

(([email protected]))

** 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

(([email protected];))

Feb 10 (Reuters) - Indian explorer Oil India OILI.NS reported a fall in third-quarter profit on Tuesday as lower realisations squeezed margins, despite higher fuel demand.

The state-owned firm's standalone profit, which excludes earnings from joint ventures and overseas operations, fell 33.8% to 8.08 billion rupees ($89.2 million) for the quarter ended December 31.

Oil India's crude oil price realisation - the price at which it sells products - fell to $62.84 per barrel from $73.82 per barrel a year earlier, tracking a decline in global crude prices. Brent crude LCOc1 dropped more than 9% during the October-December quarter.

The fall in crude prices dragged down overall revenue, while costs climbed, squeezing margins. Oil India's operating margin contracted to 13.58% from 30.65% a year earlier.

Revenue from operations fell 6.2% to 49.16 billion rupees, with revenue from Oil India's crude oil segment - its largest - dropping 10.7%. Its natural gas segment's revenue, however, grew 3.2%.

The firm's total expenses rose 16.4% to 45.15 billion rupees.

Meanwhile, fuel consumption in India, the world's third-largest consumer and importer of oil, rebounded 5.5% and 5.3% year-on-year in November and December, respectively, after a 0.4% drop in October, according to data from Petroleum Planning and Analysis Cell.

Oil India approved a second interim dividend of seven rupees per share for the current financial year.

($1 = 90.5530 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Sonia Cheema)

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

Updates

** Shares of oil explorers Oil and Natural Gas Corp ONGC.NS and Oil India OILI.NS fall 1% and 5.1%, 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, up 1.2% and 3.5%, respectively.

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

** UBS says India's decision in the federal budget to avoid raising excise duty on retail fuel removes key near-term overhang for oil marketing companies (OMC) and is supportive of marketing margins

** Brokerage flags higher power sector capex and incentives for clean energy, carbon capture and storage as positives for broader energy value chain

** Nifty Energy .NIFTYENR index down 0.1% on Monday vs 0.3% rise in benchmark Nifty 50 .NSEI

(Reporting by Nandan Mandayam and Surbhi Misra 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:

• OIL INDIA CHAIR: INITIATED DISCUSSION WITH CANADA FOR STUDYING CRITICAL MINERAL RESOURCES

Source text: [ID:]

Further company coverage: OILI.NS

(([email protected];;))

Jan 23 (Reuters) -

• OIL INDIA TO SIGN MOU WITH TOTALENERGIES FOR LNG SOURCING - GOVERNMENT STATEMENT

• INDIA BPCL TO SIGN CRUDE IMPORT DEAL FOR BRAZIL OIL - GOVT STATEMENT

• BPCL TO BUY 12 MLN BARRELS BRAZILIAN CRUDE FROM PETROBRAS - GOVT STATEMENT

• INDIA NUMALIGARH REFINERY LTD TO COLLABORATE WITH TOTALENERGIES TO SET UP SAF PROJECT IN EASTERN INDIA - GOVT STATEMENT

• OIL INDIA TO SIGN MOU WITH TOTALENERGIES FOR LNG SOURCING - GOVT STATEMENT

Further company coverage: OILI.NS

(([email protected];))

** 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)

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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

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** 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)

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