Bulletin Updates

OIL: Rs 850 crore hit from dry wells, no impairment for Mozambique – 25 Jun 2021

Jun 25, 2021

The following are some of the highlights of OIL's performance in 2020-21

The company brass claims that it will take no impairment on Mozambique even through force majeure conditions are in place because insurgents are very near its operating area in the LNG project where it has a big stake. The management claims impairment will not be needed even if the force majeure continues for two years

The company took an Rs 850 crore hit in dry wells in its KG Basin exploration as well as Mizoram, both of these missions have not been abandoned

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