Oil India Targets One Million Tonnes of Quarterly Crude Output

Oil India Ltd., a Maharatna firm, is aiming to boost its quarterly crude oil production to at least one million tonnes. Currently, the company churns out around 950,000 tonnes of crude per quarter.

This target comes on the back of Oil India's highest-ever daily crude oil output of 11,017 tonnes recorded on August 3.

For the June quarter, the company reported a net profit of ₹28.70 billion, up from ₹8.13 billion in the same period last year. Net revenue from operations rose 59% to ₹79.58 billion.

Oil India also plans to step up drilling to at least 100 wells this year and target over 5 billion cubic metres of gas production by 2029, an increase from its current 2.93 billion cubic metres.