The government has received about Rs. 307 crore and Rs. 20 crores from Oil India Ltd and MSTC, respectively, as dividend tranches, tweeted by the Department of Investment and Public Asset Management (DIPAM).
It may be mentioned here that Oil India Limited (OIL) had said that the oil giant earned the highest-ever profit of Rs. 3,887.31 crores during FY 2021-22.
This represents a growth of 123 per cent over the previous year with a substantial increase in Earnings Per Share (EPS) at Rs 35.85.
The company also recorded its highest-ever total income at Rs 16,428 crore during the year with total capital expenditure (CAPEX) of Rs 4,367 crore, which was 106 per cent of its target.
In line with the Government of India's Hydrocarbon Vision 2030 for NE India and its thrust on reducing imports, Oil India has embarked upon an aspirational target of Mission 4 plus for a significant increase in the production of Crude Oil and Natural Gas, a statement said.
The company recorded the highest-ever record production of natural gas since inception at 3.045 BCM as against 2.642 BCM in 2020-21.
With a total exploration acreage of 63,097.9 sq km spread across India, including 53,859.20 sq km of acreage acquired under OALP, Oil India is looking at a higher growth curve in the coming years.
This growth trajectory of exploration acreage in Category -II and Category-III basins will enable OIL to expand its footprint to other high-potential regions of India, apart from its current footprints in Assam, Arunachal Pradesh, Mizoram, Tripura, Nagaland, Rajasthan, Odisha, Mahanadi Onshore, Andhra Pradesh, Andaman Offshore, Kerala-Konkan Offshore, and Krishna-Godavari Shallow water.
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