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OIL registers highest total income
Guwahati, Sept 22: The Oil India Limited (OIL) has registered the highest ever total income of Rs 21.9296 billion with a profit after tax of Rs 5.2522 bn and declared a dividend of 75 per cent on paid up capital.
Although OIL could not achieve the target for crude oil and gas production as well as the target for drilling and survey but the company's exploration efforts led to discovery of new structures which will give valuable lead for future exploration and development, he said.
"Exploration and production are the primary activities of the organisation and will continue to be so but circumstances at this juncture are in favour of OIL's development into an integrated company with diversification meaning assured return on income", Dutta said.
The CMD further pointed out that there were imminent challenges before OIL which is now venturing into logistically difficult and geologically more complex frontiers in the North East.
Bureau Report