Oil India Limited (OIL) took a major step towards expanding its integrated energy portfolio by signing two landmark Memoranda of Understanding (MoUs) with Bharat Petroleum Corporation Limited (BPCL) and Numaligarh Refinery Limited (NRL) during the 28th Energy Technology Meet 2025 held in Hyderabad. The agreements were signed in the presence of Shri Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas (MoPNG), marking a new phase in OIL’s growth strategy focused on refining, petrochemicals, and logistics infrastructure. These collaborations reinforce OIL’s vision of building a sustainable and self-reliant energy future in line with the Government of India’s Atmanirbhar Bharat initiative.
Under the first MoU, OIL and BPCL agreed to explore collaboration for BPCL’s upcoming Greenfield Refinery and Petrochemical Complex near Ramayapatnam Port in Andhra Pradesh’s Nellore district. The proposed refinery will have a capacity of 9–12 million metric tonnes per annum (MMTPA) and an ethylene cracker unit of 1.5 MMTPA, involving an estimated investment of around ₹1 lakh crore, or approximately US$11 billion. The facility is expected to play a pivotal role in expanding India’s downstream capacity and is slated for commercial operations by FY 2030. As part of this agreement, OIL may take a minority equity stake in the proposed joint venture. The project has already received major statutory clearances and secured around 6,000 acres of land from the Government of Andhra Pradesh, with pre-project work already in progress.
In another significant development, OIL joined hands with BPCL and NRL to sign a tripartite MoU aimed at improving petroleum product evacuation and transportation following NRL’s capacity expansion from 3 MMTPA to 9 MMTPA. The three companies will jointly assess the development of a cross-country petroleum product pipeline from Siliguri to Mughalsarai via Muzaffarpur and the expansion of depot infrastructure, with an estimated investment of ₹3,500 crore. The ownership of this venture will be divided among BPCL with 50 percent, and OIL and NRL holding 25 percent each.
The signing ceremony was attended by key dignitaries, including Dr. Ranjit Rath, Chairman and Managing Director of OIL and Chairman of NRL, Mr. Sanjay Khanna, Director (Refineries) and Additional Charge C&MD, BPCL, and Mr. Bhaskar Jyoti Phukan, Managing Director, NRL. The agreements mark a strategic move by OIL to strengthen its presence across the energy value chain, from midstream logistics to downstream refining and petrochemical manufacturing.
