Monday, February 25, 2019

Oil India Limited is ‘The Third Best Company To Work For’ in India: Report

OIL India Limited has been recognised as the third best company to work for in India by “Dream Companies to Work For” award by 27th Edition of the World HRD Congress and Awards. Propelled by its human approach towards business, Oil India has been ranked top three in the ‘Dream Companies to Work For’ out of 200 public sector and private companies. This ranking has become a defining accolade for organizations, providing recognition to path-breaking efforts made in various categories. Award winners were chosen by an...
independent expert panel of judges from across industry sectors, with the underlying objective of recognizing and celebrating HR excellence.
The ranking was awarded based on the various HR practices and L&D initiatives of OIL which was presented to the jury recently. The World HRD Congress is one of the largest rendezvous of HR leaders that brought together over 2000 professionals from more than 57 countries.
Oil India Limited won 14 individual awards in various categories for its L&D, CSR and HR practices. For L&D initiatives, OIL won in Best Leadership Development Programme (OIL’s MDP Programme at IIMs), Best Employee Reward & Recognition Strategy (HOPE Scheme), Excellence in Training (Executive Training @ OIL), Organisation with innovative HR practices (Outbound Leadership Programme), Innovation in Learning Services (ROI in L&D), Outstanding contribution to the cause of Education (INSPIRE), Best Mentoring Programme (Executive Development Programme for Probationary Officers), Workplace & People Development Award (Prayaag – OIL’s Platform for Millennials). For Personnel initiatives, OIL won Leading HR Practices in Quality Work-Life, Innovative Retention Strategy, Best Talent Management Strategy and Dream Companies to work for-Oil & Gas.  For its CSR initiatives, OIL won Best Corporate Social Responsibility Practices & also won Award for Development& Welfare of Women & Children. In the individual awards category, Mr Salman Khan, Manager (L&D) was selected by the Jury as the Young Learning Leader of the Year (2018-19).
The World HRD Congress recognizes marque organizations who have demonstrated excellence and innovation in the field of Human Resource Development. The goal of the World HRD Congress is to provide a platform showcasing human resource talent. The nominations are evaluated by an eminent jury comprising of senior professionals based on pre-defined criteria and go through a rigorous six-step process from receiving the entries to the final rankings and includes a presentation by the short-listed companies on innovative HR practices, company values, work culture, CSR and more.
Earlier, the PSU reported Profit after tax (PAT) for Q3 FY 2018-19 is Rs. 1233.45 crore. This is the highest quarterly profit since listing of the company in September, 2009 and 74.90% higher as compared to PAT of Rs. 705.22 crore during similar quarter last year.
Its crude Oil price realisation increased by US$ 17.99/BBL to US$ 70.66 IBBL in FY2018-19 as compared to US$ 52.67/BBL during FY2017-18.
The story of Oil India Limited (OIL) traces and symbolises the development and growth of the Indian petroleum industry. From the discovery of crude oil in the far east of India at Digboi, Assam in 1889 to its present status as a fully integrated upstream petroleum company, OIL has come far, crossing many milestones.
On February 18, 1959, Oil India Private Limited was incorporated to expand and develop the newly discovered oil fields of Naharkatiya and Moran in the Indian North East. In 1961, it became a joint venture company between the Indian Government and Burmah Oil Company Limited, UK.
In 1981, OIL became a wholly-owned Government of India enterprise. Today, OIL is a premier Indian National Oil Company engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. OIL also provides various E&P related services and holds 26% equity in Numaligarh Refinery Limited.
The Authorized share capital of the PSU is Rs. 2000 crores. The Issued, Subscribed and Paid share capital of the company is Rs. 1134.90 Crores. At present, The Government of India, the Promoter of the Company is holding 66.13% of the total Issued & Paid-up Capital of the Company. The balance 33.87% of the Equity capital is held by Public and others including Bodies Corporate, Mutual Funds, Banks, FIIs, OIL has over 1 lakh sq km of PEL/ML areas for its exploration and production activities, most of it in the Indian North East, which accounts for its entire crude oil production and majority of gas production. Rajasthan is the other producing area of OIL, contributing 10 per cent of its total gas production.
Additionally, OIL’s exploration activities are spread over onshore areas of Ganga Valley and Mahanadi. OIL also has participating interest in NELP exploration blocks in Mahanadi Offshore, Mumbai Deepwater, Krishna Godavari Deepwater, etc. as well as various overseas projects in Libya, Gabon, USA, Nigeria and Sudan.
Oil India Limited (OIL) is the second largest hydrocarbon exploration and production Indian public sector company with its operational headquarters in Duliajan, Assam, India. The company is a state-owned Navratna under the administrative control of India's Ministry of Petroleum and Natural Gas with its corporate offices in Noida in the New Delhi-NCR region.
OIL is engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of liquid petroleum gas. The company's history spans the discovery of crude oil in the far east of India at Digboi, Assam in 1889 to its present status as a fully integrated upstream petroleum company.

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