Oil India (OIL) is a premier state-run company under the administrative control of Ministry of Petroleum and Natural Gas in the central government. The company is engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG.
For the quarter ending September 30, 2012, the company’s net profit declined 16 per cent to Rs 954.57 crore from the year-ago period. In the segment wise results, revenues from crude oil fell to Rs 1,987 crore in the July-September quarter from Rs 2,741 crore in the same quarter last fiscal, while sales from LPG also dropped to Rs 20.76 crore from Rs 29.91 crore. In the June quarter, Oil India had posted a 9.5 per cent rise in net profit on back of higher crude oil and natural gas prices.
It is learnt that the company plans to engage a contractor for for supply, installation and commissioning of 10 mw crude oil run generator set at Guwahati. Separately, it is looking out for a contractor who can supply lube oil servo super or equivalent at Duliajan. The company is also in the process of engaging a contractor for supply of heavy weight drill pipe at Dibrugarh.
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