OIL achieved highest-ever quarterly Standalone PAT, supported by 11% growth in crude oil production

Noida: State-owned Maharatna CPSE Oil India Limited (OIL) announced its financial results for the first quarter of FY 2026–27 (Q1 FY27) during its 583rd Board of Directors meeting held on August 7, 2026.

Driven by strong production growth and higher global crude oil realizations, the company achieved its highest-ever standalone quarterly Profit After Tax (PAT) of ₹2,870 crore, marking a 2.5-fold increase compared to ₹813 crore reported in Q1 FY26.

Key Financial Highlights

• Standalone PAT: ₹2,870 crore (up ~150% YoY from ₹813 crore)

• Consolidated PAT: ₹4,027 crore (up 97% YoY from ₹2,047 crore)

• Crude Oil Price Realization: USD 98.73/bbl in Q1 FY27

• Subsidiary Performance (NRL): Numaligarh Refinery Limited (NRL) reported a massive 167% jump in PAT to ₹1,305 crore (up from ₹488 crore in Q1 FY26), backed by a Gross Refining Margin (GRM) of $35.95/bbl and an improved Distillate Yield of 87.58%.

Operational Breakthroughs & Field Performance

To strengthen national energy security, OIL ramped up crude production from its mature fields to 0.950 MMT in Q1 FY27, compared to 0.853 MMT in the corresponding quarter last year—an 11% YoY growth.

Notably, on June 27, 2026, the company logged its highest-ever daily crude oil production rate of 10,921 MT (approx. 84,109 barrels).

Key Technical & Exploration Achievements

• Andaman Basin Discovery: OIL discovered natural gas in the Vijaya Puram-3 exploratory well, confirming the significant hydrocarbon potential of the Andaman offshore basin.

• Engineering Feat in Assam: The company successfully executed a highly deviated onshore exploratory well in Assam, establishing a record horizontal displacement of 3,116 meters—the highest ever recorded for an onshore well in India.