OIL reports significant increase in Q4 2020-21 EBITDA at ₹ 1754.83 crore as compared to EBITDA in Q4 2019-20

Sarkaritel
By Sarkaritel June 22, 2021 05:32

OIL reports significant increase in Q4 2020-21 EBITDA at ₹ 1754.83 crore as compared to EBITDA in Q4 2019-20


Oil India Board in its 522nd Board Meeting held on 21st June, 2021 approved the Q4 and FY 2020-21 results. Highlights and financial performance of the Q4 and FY 2020-21 are as follows:

  1. Highlights:
  • The Company has reported significant increase in Q4 2020-21 EBITDA at ₹ 1754.83 crore as compared to negative EBITDA in Q4 2019-20 due to better oil price realization.
  • Average crude oil price realisation during Q4 FY2020-21 was USD 59.80/bbl which was higher by 14.61% as compared to crude Oil price realisation of US$ 52.18/BBL during Q4 FY2019-20.
  • Average Crude Oil price realisation in FY 2020-21 is US$ 43.98 /BBL vis-à-vis US$ 60.75/BBL during FY2019-20, decreased by 27.61% due to demand disruption caused by COVID.
  • Average natural gas price realisation during FY 2020-21 decreased by US$ 1.37 / MMBTU to US$ 2.09/MMBTU as compared to US$ 3.46/MMBTU during FY 2019-20.
  • Crude Oil production for FY2020-21 is 2.964 MMT which is 5.42% lower than the crude oil production of 3.134 MMT during FY2019-20. Further, production for Q4 2020-21 is 5.28% lower at 0.718 MMT as compared to 0.758 MMT in Q4 2019-20.
  • Natural gas production during FY2020-21 is lower at 2642 MMSCM as compared to 2801 MMSCM during FY2019-20, decrease of 5.68%.
  • Profit After Tax (PAT) for FY2020-21 is ₹1,741.59 crore as compared to PAT of ₹ 2,584.06 crore for FY2019-20.
  • Board of OIL has recommended a final dividend of ₹ 1.50 per share for 2020-21. Company had earlier paid interim dividend of ₹ 3.50 per share in February’2021.
  • The Company has acquired additional 54.16% ownership interest in M/s Numaligarh Refinery Limited (NRL) on 26th March, 2021 for total cash consideration of ₹ 8,676 crore increasing the equity stake in NRL to 80.16% as on 31.03.2021 including 10.53% shares held on behalf of Govt. of Assam. NRL is now a subsidiary of OIL.
  • The Company has made investments of over ₹ 12,000 crore including ₹ 8,676 crore in NRL. During the year two major infrastructure projects, Secondary Tank Farm at Madhuban and Gas Compressor Station at Makum were dedicated to the Nation by Hon’ble Prime Minister of India, Shri Narendra Modi.
  • During the year, the Company acquired 4 blocks in OALP Round-V increasing its acreage by 13%.
  • The Company achieved significant progress in the Exploration and Drilling activity and is the first operator to complete seismic acquisition in a block of OALP Round-I.

There was a blowout incident in a gas well in Baghjan Oilfield during workover operations in May, 2020. The blowout was successfully controlled.

Sarkaritel
By Sarkaritel June 22, 2021 05:32

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