OIL pays Rs. 518.65 cr dividend to govt
New Delhi, Mar 7 : Oil India Limited (OIL), a premier national oil company, on Thursday said it has paid a total dividend of 190pc for the year 2011-12 (adjusted for Bonus).
An Interim Dividend of 110% was declared in January, 2013 for the financial year 2012-13.
OIL CMD S. K. Srivastava handed-over a cheque for Rs.518.65 crore towards interim dividend @ 110% for the financial year 2012-13 to Union Petroleum and Natural Gas Minister M. Veerappa Moily in presence of senior officials of the ministry and Oil India Limited.
Oil India Limited is the second largest public sector E&P company in India and has been able to achieve this record production in its five decade history through increase in drilling efforts, introduction of innovative technologies like horizontal and J-Bend drilling and effective exploration in its areas of operation.
OIL is producing at the rate of around 3.72 MTPA of crude oil and 7.22 MMSCMD of gas from its fields.
OIL has exploration and production acreages of over 1,60,000 sq km pan-India and overseas.