August 12, 2026: Maharatna firm Oil India is targeting quarterly crude oil production of at least 1 million tonnes, up from around 950,000 tonnes currently, a company official said during an analyst call on Monday (August 10).

The company expects crude oil production to reach 3.9-4 million tonnes in the 2026-27 financial year and 4.2 million tonnes by FY29, the official said.

Oil India’s production target comes after it recorded its highest-ever daily crude oil output of 11,017 tonnes on August 3.

“From an operational point of view, we achieved 1.707 billion oil and oil equivalent of production during this quarter. The crude oil production for the quarter was 0.95 MMT (950,000 metric tonnes), which has increased by 11% on a year-to-year basis,” the official said.

Crude oil price realisation stood at $98.73 per barrel in the June quarter, up $26.20 per barrel from a year earlier.

Oil India reported a net profit of ₹28.70 billion for the June quarter, compared with ₹8.13 billion in the year-ago period. Net revenue from operations rose 59% to ₹79.58 billion from ₹50.12 billion.

(Source: CNBC)