Oil India to miss MoU targets

Oil exploration and production major Oil India Limited (OIL) has informed the oil ministry that the company would not be able to meet the MoU targets for this year due to environmental problems. In a recent meeting with the oil ministry, OIL expressed concern about the shortfall in production against MoU targets for 2007-08. This is despite OIL achieving a highest ever daily production of 3.48 MTPA this year, against 3.11 MTPA on March 31, 2007. According to sources, Oil India's target for the year 2007-08 is 3.50 MMT, including in country and overseas production.

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