November 14, 2026: India has maintained its FY27 crude oil production target of 4 million metric tonnes (MMT). The company expects output to increase to 4.1-4.2 MMT in FY28, while total oil and oil equivalent production is projected to reach 10 MMT by FY29 as new gas evacuation infrastructure becomes operational, Chairman and Managing Director Ranjit Rath said.

Rath, who heads Oil India Ltd., a Maharatna public sector enterprise under the Ministry of Petroleum and Natural Gas, said the company's next phase of growth will be driven by higher gas production after the Duliajan feeder pipeline is connected to the national gas grid. He also said the company remains on track with its drilling programme and capital expenditure despite higher exploration costs affecting quarterly earnings.

Oil India expects the Duliajan feeder line to unlock additional gas production over the next 18 months, while the Numaligarh Refinery expansion is scheduled for completion by March 31, 2027.

(Source: CNBC)