Oil India realises $80 per barrel on average for its crude this quarter

Oil India Ltd. has realised an average price of about $80 per barrel for its crude this quarter after factoring in the windfall tax, its finance chief has said.

Windfall tax, imposed at the beginning of July and revised every fortnight, has curbed price realization for domestic oil producers. The average windfall tax has been about $25-26 per barrel during the quarter and the average price realisation for the company has been about $80 per barrel, said Harish Madhav, Director (Finance) at Oil India.