Oil India Sees Path to Meeting FY27 Crude Target Amid Output Rise

Oil India, a Maharatna public sector energy company under India's Ministry of Petroleum and Natural Gas, expects to meet its 4 million tonne crude oil production target for the financial year 2026-27 (FY27), Chairman and Managing Director Ranjit Rath said.

Rath credited an 11% increase in output over the past quarter to plans to drill about 100 wells this year, up from 54 last year. The company also expects a new pipeline connection to resolve gas evacuation constraints that have held back output.

'So, the guidance for 4 million metric tonne looks possible to us,' Rath said.