Oil India Limited (OIL) signed two significant MoUs with Bharat Petroleum Corporation Limited (BPCL) and Numaligarh Refinery Limited (NRL) in the presence of Shri Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas. These partnerships mark a major step in OIL’s integrated growth strategy, reinforcing its commitment to advancing India’s refining, petrochemical, and logistics capabilities while promoting energy sustainability and self-reliance.
Under the first MoU, OIL and BPCL will collaborate on BPCL’s upcoming Greenfield Refinery and Petrochemical Complex near Ramayapatnam Port, Andhra Pradesh. The agreement includes exploring the possibility of OIL taking a minority equity stake in the project, which has already received key clearances and land allocation from the state government. The collaboration aims to leverage both companies’ strengths in refining and downstream operations, driving value creation and contributing to India’s energy security.
In the second MoU, OIL, BPCL, and NRL agreed to jointly develop a cross-country petroleum product pipeline from Siliguri to Mughalsarai via Muzaffarpur, along with depot infrastructure augmentation. With an investment of approximately ₹3,500 crore, the project will be jointly owned by BPCL (50%), OIL (25%), and NRL (25%). These initiatives reflect OIL’s strategic diversification into midstream and downstream sectors, aligned with the Government of India’s Atmanirbhar Bharat vision for a self-reliant and sustainable energy ecosystem.
