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Low Net Realisation, Crude Oil Production Loss Hit Profit: OIL

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August 14: Oil India Limited (OIL) profit has fallen 35% and revenue in the crude oil segment has declined over 20%. T.K. Ananth Kumar, Director Finance at OIL, says the first-quarter earnings missed estimates due to a $9 per barrel drop in net realisations and the production loss in crude oil. We are waiting for government approval to conclude the Mozambique deal, he adds.