Oil India Limited (OIL), a Maharatna CPSE under the Ministry of Petroleum & Natural Gas, has signed a Memorandum of Understanding (MoU) with Mineral Exploration and Consultancy Limited (MECL), a Miniratna-I CPSE under the Ministry of Mines. This strategic collaboration aims to accelerate the exploration and development of critical mineral blocks in India and overseas.
The MoU was signed in the presence of top executives from both organizations, marking a major step toward enhancing India’s energy security and sustainable growth. Through this partnership, OIL and MECL will jointly conduct exploration activities to identify, evaluate, and develop mineral-rich blocks, including the Phop Graphite and Vanadium block in Arunachal Pradesh, recently awarded to OIL.
In the meantime, Oil India shares experienced a volatile trading session on Friday, closing at ₹391.85 after opening at ₹405.10. The stock hit a high of ₹412.35 and a low of ₹390.60 during the day. Despite the fluctuations, the current price remains significantly below its 52-week high of ₹767.90
