Oil India Limited (OIL), a Maharatna CPSE and a leading energy company in India, has recently informed exchnages that the company signed a strategic Memorandum of Understanding (MoU) with Petrobras, Brazil’s state-owned oil giant.
This collaboration aims to enhance hydrocarbon exploration and production in India’s offshore regions. The agreement was signed at India Energy Week (IEW) 2025 in New Delhi by Ranjit Rath, Chairman & Managing Director of OIL and Magda Chambriard, CEO of Petrobras.
This India-Brazil energy partnership focuses on exploring deep and ultra-deep offshore regions, including the Mahanadi and Andaman basins. The initiative aligns with the Government of India’s policies, such as the Hydrocarbon Exploration and Licensing Policy (HELP) and the Open Acreage Licensing Policy (OALP), which promote investment in India’s energy sector.
Oil India Q3 results
Oil India Limited (OIL) recently announced impressive financial results for Q3 FY25, showcasing strong earnings growth. The company reported a revenue of ₹5,239.66 crore for the quarter, with a Profit Before Tax (PBT) of ₹1,550.29 crore and a Profit After Tax (PAT) of ₹1,221.80 crore. Earnings per share (EPS) stood at ₹7.51.
For the nine-month period ending December 31, 2024, the company achieved a revenue of ₹16,598.28 crore, with a PAT of ₹4,522.71 crore, further strengthening its financial position. Assets under management reached ₹68,230.45 crore, reinforcing its industry leadership.
