Oil India on a roll

Oil India Limited (OIL), India’s oldest oil and gas company and the youngest Maharatna CPSE, signed a contract with Dolphin Drilling Limited, Norway, a leading drilling contractor for the offshore oil & gas industry, for the hiring of the ‘Anchor Moored Semi-Submersible Drilling Unit Blackford Dolphin’ on July 22, 2024, in Delhi.

The Blackford Dolphin will be deployed for drilling in Andaman Offshore Blocks to undertake exploration activities in the block.

The stock price has reacted positively; the stock opened more than 1.5% higher today at Rs.564.25 and rose to an intraday high at Rs.575.75, up almost 4%. Its 52-week high is at Rs.652.50.