State-owned explorer Oil India trimmed production guidance for crude oil to 3.55 million metric tonnes (MMT) for the current financial year following a softer production in the second quarter marred by blockades.
Previously, the producer had estimated to produce 3.70 MMT of crude oil and 3.65 BCM of gas in the current year.
Speaking to investors in a conference call following the announcement of their financials for the second quarter, Oil India further informed it expects to produce 3.798 MMT of crude oil in FY 2027 hinging alongside on a conservative estimate of 3.75 MMT. This is lower than its previous estimate of 3.95 MMT.
In the subsequent financial year, that is, FY 2028, it expects production to scale between 3.98 and 4 MMT.
With respect to gas, Oil India expects to produce 3.6 billion cubic metres (BCM) gas in the ongoing financial year.
Additionally, it forecasts production of 3.8 BCM of gas in FY 2027 which is lower than its earlier estimate of 4.31 BCM for the same period. It expects to produce 4.6 BCM of gas in FY 2028.
The company had informed during the quarterly earnings Friday that production of oil plus oil equivalent of gas (O+OEG) had declined 1.31% to 1.652 million metric tons of oil equivalent during the September-end quarter. On a standalone basis, profit after taxes declined 43% YoY to ₹1,044 crore decelerated by a 14% drop in its average selling realisation from selling crude oil.
Published – November 17, 2025 09:46 pm IST
