Oil reported a rise in Q4 of 2020-21

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Dibrugarh:A significant rise of Oil India Ltd performance in Q4 of the year 2020-2021 EBITDA was reported at Rs 1,754.83 crore. The Q4 of 2020-21 has a better performance than the previous year’s quarter. The raise was seen due to better price realization of the fuel.

A meeting was held for the 52nd time by Oil India Ltd to announce the Q4 results for the year 2020-2021.

An average crude oil price realization was

$59.80/bbl for Q4 FY 2020-21 which is higher by 14.61 percent compared to last year, natural gas prices decreased by $1.37/ nmbtu to $2.09/nmbtu. Crude oil production was 5.42 percent lesser than the last year while natural gas production dripped by 5.68 percent. Hence, the Profit after Tax (PAT) is Rs. 1,741.59 crores.

An interim dividend of Rs 3.50 per share was planned by the company for February 2021 while a final dividend of Rs 1.50 per share was recommended by the board of OIL.

An equity stake at NRL increased to 80.16 percent on March 31, 2021, as OIL has additional ownership of 54.16 percent in NRL, with 10.53 percent at hold on behalf of Assam Govt. NRL is now a subsidiary of OIL.

Two major infrastructure projects were attained during the year 2020-21 and investments of over Rs 12,000 crores including Rs 8,676 crores were made in NRL. This year has seen a progressive rise in the exploitation and drilling activity and is the first operator to complete the seismic acquisition in a Block.

The company reported the attaining of 4 blocks in OALP round-V with a 13 percent increase of land.