Oil India Limited (OIL), a Maharatna CPSE, held its 66th Annual General Meeting where Chairman and Managing Director Dr Ranjit Rath reaffirmed the company’s commitment to building a resilient, diversified, and sustainable energy future for India. The strategy aligns with national priorities of Atmanirbhar Bharat and Viksit Bharat as the country works towards achieving energy independence by 2047.

Highlighting a milestone achievement, Dr Rath noted the inauguration of the world’s first bamboo-based 2G Bio Ethanol Plant at Numaligarh, Assam, by the Prime Minister on 14 September 2025. The project, supported by central and state leaders, underscores OIL’s role in India’s bio-energy transition, contributing to import substitution and local value creation. The Prime Minister also laid the foundation stone of a 360 KTPA polypropylene plant at Numaligarh, to be implemented by Numaligarh Refinery Limited (NRL) at a cost exceeding Rs 70 billion. The project will significantly raise NRL’s Petrochemical Intensity Index.

FY 2024–25 was a landmark year for OIL, delivering its highest-ever oil and oil-equivalent gas production of 6.71 million metric tonnes of oil equivalent (MMTOE), alongside record natural gas output of 3,252 MMSCM. On the financial front, OIL reported standalone income of Rs 239.87 billion and consolidated income of Rs 378.30 billion. Net profit stood at Rs 61.14 billion (standalone) and Rs 70.40 billion (consolidated), reflecting margins of 27.64 per cent and 19.47 per cent. The company also maintained a robust consolidated capital investment of over Rs 180 billion while ensuring strong dividend payouts.

Innovation played a pivotal role, with technologies such as propellant stimulation, fishbone drilling, and AI-based reservoir modelling deployed to enhance recovery and reduce costs. Progress was also made towards its Net Zero 2040 target, including a 59 per cent reduction in flaring, CO₂ emission abatement, and energy efficiency improvements.

OIL is accelerating investments in renewables, biofuels, compressed biogas (CBG), and green hydrogen, alongside transformative projects through NRL such as capacity expansion, India’s first large-scale sustainable aviation fuel (SAF) plant, and the newly commissioned 2G bio-ethanol facility.

The company also continued investments in healthcare, education, skills, sports, and sustainable livelihoods across its operational areas, reinforcing its role in nation building.