Indian Oil shares jump after striking first oil in Abu Dhabi’s Onshore Block 1Indian Oil shares jump after striking first oil in Abu Dhabi’s Onshore Block 1

Introduction

Leading energy companies discovered light crude oil in Onshore Block 1, Abu Dhabi, at XN-76 and XN79 02S wells, with appraisal and development planned.

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Share price movement of Indian Oil

On January 14, 2026, Indian Oil Corporation Ltd opened at ₹156.80, down 0.32% from its previous close of ₹157.30. The stock reached a high of ₹159.40 (1.34%) and a low of ₹156.20. By 11:41 AM, it traded at ₹158.65, a 0.86% increase, with a market cap of ₹2,24,033.45 crore.

IOCL & BPRL Discover Oil Abu Dhabi

Indian Oil Corporation Limited (IOCL) and Bharat PetroResources Limited jointly operate Onshore Block 1 in Abu Dhabi through Urja Bharat Pte Limited (UBPL). The concession was awarded in 2019.

In early 2024, UBPL discovered oil in the Unconventional Shilaif play at the XN-76 exploratory well. Hydrofracking operations enabled light crude oil to flow at surface from the Shilaif formation.

Testing of the XN79 02S well confirmed the first oil discovery in the Habshan reservoir. UBPL will appraise these wells for potential development and advance Ruwais field operations.

Stock performance of Indian Oil for Period of 1 week, 6 months, and 1 year

Indian Oil Corporation Ltd declined 3.24% over the past week, gained 4.89% in the past 6 months, and rose 24.3% over the past 1 year.

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Shareholding pattern of Indian Oil

Particulars	Sep 2025	Jun 2025	Mar 2025
Promoter	51.50%	51.50%	51.50%
FII	7.70%	8%	7%
DII	30.00%	29.90%	29.50%
Public	10.80%	11.20%	11.60%

About Indian Oil

Indian Oil Corporation Ltd (NSE: IOC) is a Maharatna company with leadership in refining, petroleum marketing, pipelines, natural gas, petrochemicals, exploration, production, and hydrocarbon research in India.

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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.

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