Oil India

NEW DELHI, Aug 17 (Reuters) - India's state-owned Khanij Bidesh India Limited (KABIL) is expected to start lithium extraction in Argentina in the next four to five years after completing project feasibility, a parliamentary panel report on its operations said.

In 2024, KABIL signed a 2 billion-rupee ($20.92 million) lithium exploration pact for five blocks in Argentina.

• The government of Catamarca in Argentina has offered seven additional greenfield lithium brine blocks under the existing agreement, which KABIL is evaluating, according to the report.

• KABIL is in the process of signing a preliminary agreement with the Ministry of Production and Mining of the Province of Salta, Argentina and Energy and Mining Resources Salta SA to collaborate on lithium projects in Salta.

• Discussions are also underway for obtaining two greenfield lithium brine projects in Jujuy province.

• Two additional projects are being evaluated by KABIL and Oil India and KABIL and Indian Oil Corp.

• KABIL flagged delays in Argentina because of lack of expertise in handling lithium brine deposits.

• In Australia, KABIL, along with Oil India, Coal India and NLC India was evaluating two lithium projects.

• The panel confirmed a Reuters report that KABIL's lithium project in Mali with Uranium One Group, a subsidiary of Rosatom, was kept on hold due to "recent socio-political instability".

• KABIL is also in talks with Malawi Mining Investment Company for critical mineral projects in Malawi.

• KABIL is evaluating investment opportunities in Brazil, Canada, Russia, Indonesia, among others and looking at rare earths.

• The panel observed "limited progress" in securing overseas mineral assets and "prolonged timelines" in moving from negotiations to actual acquisition and production.

($1 = 95.6125 Indian rupees)

(Reporting by Rajesh Kr. Singh and Neha Arora; editing by Alexandra Hudson)

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NEW DELHI, Aug 16 (Reuters) - India has set a maximum daily cooking gas production target of 63,810 metric tons for state-run and private refineries to ensure domestic supplies and build buffers after U.S.-Israeli war against Iran disrupted supplies of the essential fuel, according to an August 13 government order.

Here are more details from the order:

• Companies are required to maintain adequate infrastructure for storing and transporting liquefied petroleum gas (LPG), either directly or through railways and road tankers, to meet specified quantities.

• The federal government will update the targets every January and July to reflect new production and additional output from existing refineries.

• India was buying about 90% of its cooking gas imports from the Middle East before the war on Iran disrupted supplies from March due to the blockade of the Strait of Hormuz.

• India has set production targets for individual refiners with Reliance Industries Ltd's RELI.NS domestic-market-focused refinery tasked to produce 18,000 tons a day of LPG.

• State-run explorers Oil and Natural Gas Corp ONGC.NS and Oil India Ltd OILI.NS, and gas utility Gail India Ltd GAIL.NS are expected to contribute 10% of the nationwide target.

(Reporting by Nikunj Ohri and Nidhi Verma; Editing by Christian Schmollinger)

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** Shares of Oil India OILI.NS rise 2.53% to 454.20 rupees

** Stock on track to snap five sessions of losses

** State-owned firm's standalone Q1 profit, which excludes profit from its joint ventures and operations outside the country, rose more than three-fold y/y to 28.70 billion rupees ($301.37 million)

** Motilal Oswal ("neutral", TP: 441 rupees) says profit beat its estimate by 12%, helped by higher-than-expected oil realisations and strong performance at co's Numaligarh refinery

** OILI rated "buy" on average by 21 analysts, median PT at 525 rupees - LSEG compiled data

** YTD, stock up 6.98%

($1 = 95.2325 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

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

• OIL INDIA Q1 PROFIT 28.7 BILLION RUPEES

• OIL INDIA Q1 REVENUE FROM OPERATIONS 79.58 BILLION RUPEES

Source text: [ID:]

Further company coverage: OILI.NS

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Aug 5 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA - GOVERNMENT OF ASSAM HAS RAISED TAX DEMAND OF 24.85 BILLION RUPEES FOR THE YEARS 2005-2024

Source text: ID:nBSE2v0WxT

Further company coverage: OILI.NS

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July 30 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA - SIGNS MOU WITH MCD TO ESTABLISH COMPRESSED BIO-GAS PLANTS IN DELHI

Source text: ID:nNSE4wbWMD

Further company coverage: OILI.NS

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** Upstream oil producers ONGC ONGC.NS and Oil India OILI.NS rise as much as 2.1% and 3.1%, bucking the broader trend

** Benchmarks Nifty 50 .NSEI and Sensex .BSESN slip 0.5% and 0.6%

** Brent crude LCOc1 rises 2.5% to top $90 a barrel as the U.S., Iran expand strikes, restricting oil shipments through the Strait of Hormuz O/R

** Upstream oil producers benefit from higher crude as it improves the revenue realisations and profitability

** ONGC up 4% and OILI rises 5.1% in 2026 so far, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

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July 2 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA CHAIR: TO COMMISSION 9 MTPA NUMALIGARH REFINERY IN EARLY 2027

• OIL INDIA CHAIR: TO IMPORT 5.5-6 MILLION TON/YEAR OIL FOR NUMALIGARH REFINERY

• OIL INDIA CHAIR: NUMALIGARH REFINERY TO MAINLY PRODUCE DIESEL, GASOLINE

• OIL INDIA CHAIR: TO SELL FUELS FROM NUMALIGARH REFINERY IN LOCAL MARKET

Source text: [ID:]

Further company coverage: OILI.NS

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** Nomura touts Indian oil marketing companies, city gas distributors and Petronet LNG as biggest beneficiaries if Strait of Hormuz reopens, crude prices continue to ease

** Says crude could fall below $70 per barrel over the next few months if sanctions on Iran are lifted and oil flows normalise

** On Tuesday, IOC shares rise 0.27%, BPCL gains 0.13%, HPCL up 0.49%, PLNG advances 0.49%, RELI up 1.64% and ONGC up 0.88%

KEY STOCK IMPACT OF IRAN PEACE DEAL

Source: Nomura Research

(Reporting by Surbhi Misra in Bengaluru)

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June 9 (Reuters) - Kellton Tech Solutions Ltd KELL.NS:

• KELLTON TECH SOLUTIONS - LAUNCHES LARGE-SCALE DIGITAL WELLHEAD MONITORING FOR OIL INDIA

Source text: ID:nBSE6zzNss

Further company coverage: KELL.NS

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June 5 (Reuters) - Oil India Ltd OILI.NS:

• OIL INDIA - REPORTS PRESENCE OF NATURAL GAS IN 3RD EXPLORATORY WELL IN ANDAMAN BLOCK

• OIL INDIA - PRELIMINARY ASSESSMENT INDICATES HYDROCARBON ACCUMULATION POTENTIAL

Source text: ID:nBSE4wM1MT

Further company coverage: OILI.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 - RECOMMENDS FINAL DIVIDEND OF 1 RUPEE PER SHARE FOR FY2025-26

• OIL INDIA- JV BETWEEN UNIT, HINDUSTAN WASTE TREATMENT PRIVATE LTD FOR COMPRESSED BIOGAS PROJECTS

Source text: ID:nBSE1BgdK9

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

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** 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)

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** Oil marketing companies BPCL BPCL.NS, HPCL HPCL.NS and IOC IOC.NS rise between 6% and 8%

** Nifty oil and gas index .NIFOILGAS up 2.5%

** Oil prices slide below $100 as a two-week Middle East ceasefire sparks a relief rally, fuelled by hopes that oil and gas flows through the Strait of Hormuz could resume

** U.S. President Donald Trump on Tuesday agreed to a ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the strait or face devastating attacks on its civilian infrastructure

** Lower oil prices boost margins for oil refiners, while weighing on upstream oil firms like ONGC ONGC.NS and Oil India OILI.NS, which are down more than 3.5%

** YTD, HPCL and BPCL down 29% and 22%, respectively; IOC down 15%

(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

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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)

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** 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)

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** 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) - 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)

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** 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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