Oil India Ltd announced hydrocarbon discovery in Libya's Area 95/96 block
OIL announced hydrocarbon discovery in Libya's Area 95/96 block, marking a significant exploration success overseas. The company ramped up crude production from Rajasthan's Thar desert Baghewala field to a record 1,202 barrels per day (70% increase YoY), totaling 43,773 MT in FY25-26, enhancing domestic energy security amid geopolitical tensions. Board meeting set for May 13, 2026, to approve Q4/YE FY26 audited results and recommend final dividend.
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