Oil India Limited — Updates, 11-02-2025: Press Release

Oil India Limited (OIL) has signed a Memorandum of Understanding (MoU) with Petrobras to collaborate on the exploration and production of hydrocarbon resources in India's offshore regions. The signing took place during India Energy Week 2025 in New Delhi, with OIL's Chairman and Managing Director, Dr. Ranjit Rath, and Petrobras CEO, Ms. Magda Chambriard, in attendance.

This strategic partnership aims to enhance bilateral energy cooperation between India and Brazil, focusing on opportunities within India’s deep and ultra-deep offshore regions, including the Mahanadi and Andaman basins. With the government's push for increasing hydrocarbon exploration, this collaboration could significantly bolster OIL's growth prospects, making it an optimal point for investors to monitor moving forward.