Millennium Post
Business

OIL caps energetic FY13 with 70 per cent final dividend

The national oil and natural gas exploration and production (E&P) company's shareholders had last month - at their 54th annual general meeting (AGM) on 21 September - declared a final dividend of 70 per cent, ie Rs 7 per share, for the financial year 2012-13 on a paid up capital of Rs 601.14 crore.

Earlier, OIL had paid an interim dividend of Rs 11 per share (at the rate of 110%) and a second interim dividend of Rs 12 per share (at the rate of 120%) for fiscal 2012-13. The hydrocarbon public sector undertaking's (PSU) total dividend payout for the year 2012-13 is, thus, approximately Rs 1,803.41 crore on a profit after tax (PAT) of Rs 3589.34 crore. The record date for the final dividend was September 13, 2013, and the book closure period was from 14 to 21 September, 2013, both days inclusive. Oil India Ltd has been present in the Indian oil and gas E&P industry for more than five decades. It is mainly engaged in the exploration, development, production and transportation of crude oil and natural gas onshore in India. It also processes the produced natural gas to extract liquefied petroleum gas (LPG).

The energy giant is present internationally through the exploration of crude and gas in Gabon, Iran, Libya, Egypt, Yemen, Nigeria, Sudan, Venezuela. In 2012 OIL acquired a 20 per cent stake in Carrizo Oil & Gas Inc’s liquid rich shale assets in the Niobrara basin in Colorado, the USA.

All of OIL’s independent proven plus probable oil reserves, and most of its independent gas reserves are located onshore in the Upper Assam basin in Assam and Arunachal Pradesh. It also has independent gas reserves in the Bikaner-Nagaur basin of Rajasthan.
Next Story
Share it