Sushil Chandra Mishra, Chairman and Managing Director (CMD) of Oil India Limited (OIL) said following the Russia Ukraine war the company has not analysed any impact as things are going on normally.
OIL has its interests in Russia. Mishra who was addressing a media conference in Guwahati on Tuesday when asked if OIL has witnessed impact due to ongoing Russia-Ukraine war, he said, “As far as the question of Russia and Ukraine is concerned it may be too early to offer any comment. It is a political issue, let it get resolved.”
He added, “We have not been able to analyze any impact as things are going on normally.
OIL has reported 152% growth in the Profit After Tax (PAT) for the period ended 31st December 2021. The Company has reported profit of Rs 2,257.30 crore in the period as against Rs 894.03 crore in the Nine months’ period last year.
OIL has initiated the action for the establishment of a 100 KW capacity pilot plant for generating Green Hydrogen with AEM Technology at its Pump station in Jorhat Assam. This is a first of its kind project in the country being implemented by a PSU. Hydrogen being the cleanest form of energy is the latest focus area across the globe to satiate the rising energy needs. Under the Paris agreement (COP 21), by the year 2030, India is committed to reduce its greenhouse emissions by 33-35% from the 2005 levels. This has necessitated finding alternative sources of cleaner energy.
Pankaj Kumar Goswami, Director (operation) OIL said, “With investment of Rs 6 Crore the plant is expected to come up by March this year. This is a pilot project and across the country R&D is going on the use of hydrogen. We will see if calorific value changes if hydrogen is injected in a gas pipeline or in domestic gas. We are also working with IIT Guwahati in this regard.”
OIL India Under ‘Mission 4.0+’ is making efforts to step up production from fields in the North-East. The fields Lakwagaon, Baghjan, Balimara have indicated an uptrend in production.
Oil is looking to rope in Padmashree and Forest Man of India Jadav Payeng to suggest afforestation measures in Baghjan. On November 5, 2020 after almost 172 days, a gas producing well in Baghjan in Tinsukia district of Oil India Limited (OIL) was killed. The gas producing well blew out on May 27. It exploded into a massive inferno on June 9. (Economic Times)
