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COMPANY PROFILE: OIL INDIA LIMITED

COMPANY PROFILE: OIL INDIA LIMITED

The story of Oil India Limited (OIL) traces and symbolises the development and growth of the Indian petroleum industry. From the discovery of crude oil in the far east of India at Digboi, Assam in 1889 to its present status as a fully integrated upstream petroleum company, OIL has come far, crossing many milestones.

On February 18, 1959, Oil India Private Limited was incorporated to expand and develop the newly discovered oil fields of Naharkatiya and Moran in the Indian North East. In 1961, it became a joint venture company between the Indian Government and Burmah Oil Company Limited, UK.

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In 1981, OIL became a wholly-owned Government of India enterprise. Today, OIL is a premier Indian National Oil Company engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. OIL also provides various E&P related services and holds 26% equity in Numaligarh Refinery Limited.

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The Authorized share capital of the Company is Rs. 2000 Crores. The Issued, Subscribed and Paid share capital of the company is Rs. 601.14 Crores. At present, The Government of India, the Promoter of the Company is holding 67.64% of the total Issued & Paid-up Capital of the Company. The balance 32.36% of the Equity capital is held by Public and others including Bodies Corporate, Mutual Funds, Banks, FIIs, Resident Individuals etc.

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Core Purpose
“The fastest growing energy company with a global presence providing value to the stakeholders”

OIL’s Vision

  • Oil India is the fastest growing Energy Company with highest profitability.
  • Oil India delights the customers with quality products and services at competitive prices.
  • Oil India is a Learning Organization, nurturing initiatives, innovations and aspirations with best practices.
  • Oil India is a team, committed to honesty, integrity, transparency and mutual trust creating employee pride.
  • Oil India is fully committed to safety, health and environment.
  • Oil India is a responsible corporate citizen deeply committed to socio-economic development in its areas of operations.

Source: http://www.oil-india.com/oilnew/

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