Oil India Limited inks two MoUs with BPCL and NRL

Hyderabad, October 28, 2025: At the 28th Energy Technology Meet 2025 being held in Hyderabad,  Oil India Limited (OIL) signed two landmark Memorandam of Understanding (MoUs) with Bharat  Petroleum Corporation Limited (BPCL) and Numaligarh Refinery Limited (NRL) in the august presence of Shri Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas (MoPNG). These partnerships mark significant milestones in OIL’s integrated growth strategy—spanning refining,  petrochemicals and logistics infrastructure—and reaffirm its commitment to building a sustainable and self-reliant energy future for India. 

OIL and BPCL signed a non-binding MoU to explore collaboration in developing BPCL’s upcoming  Greenfield Refinery and Petrochemical Complex near Ramayapatnam Port in Nellore district, Andhra  Pradesh.

The proposed facility, with a refining capacity of 9–12 MMTPA (MMTPA) and an ethylene cracker unit of  1.5MMTPA, represents an estimated investment of Rs 1 lakh crore (US$11 billion) and is anticipated to play a pivotal role in India's downstream sector expansion. The project is slated for commercial operations by FY 2030. 

Under the MoU, the companies will evaluate opportunities for collaboration, including the possibility of OIL to take a minority equity stake in the proposed joint venture. The project has already secured key statutory clearances and  6,000 acres of land from the Government of Andhra Pradesh, with pre-project activities in progress. 

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Speaking on the occasion, Dr. Ranjit Rath, Chairman & Managing Director, Oil India Limited and Chairman,  Numaligarh Refinery Limited, stated: “This collaboration reaffirms our commitment to pursue various strategic diversification initiatives to Midstream and Downstream. By partnering with BPCL, OIL, and NRL look forward to leveraging our collective strengths to unlock value creation and contribute to the nation’s energy security and distribution infrastructure. 

Together, we aim to create long-term value, enhance energy security, and participate in India’s expanding refinery and petrochemical ecosystem. This collaboration also embodies OIL’s strategic intent to diversify into integrated  energy ventures that support sustainable national growth” 

Mr. Sanjay Khanna, Director (Refineries) with additional charge of Chairman & Managing Director, BPCL, said: “This collaboration marks a significant milestone in our journey to build world-class refining and petrochemical infrastructure in southern India. By joining hands with OIL, we are combining complementary strengths to create a project of strategic scale and sustainability. The Ramayapatnam complex will not only reshape BPCL’s portfolio  but also reinforce India’s self-reliance in fuels and petrochemicals, in line with the vision of Atmanirbhar Bharat.” 

In another major development, OIL, BPCL, and NRL signed a tripartite MoU to facilitate the efficient evacuation of petroleum products following NRL’s expansion from 3 MMTPA to 9 MMTPA. 

Under this MoU, the three organisations will jointly explore the development of a cross-country petroleum product pipeline from Siliguri to Mughalsarai via Muzaffarpur and augmentation of Depo infrastructure with an estimated investment of Rs 3,500 crore. The project will be jointly owned by BPCL (50%), OIL (25%) and NRL (25%). 

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The MoUs were signed in the presence of Mr. Pankaj Jain, Secretary, MoPNG; Dr. Ranjit Rath, CMD, OIL and  Chairman, NRL, Mr. Sanjay Khanna, Director (Refineries) & C&MD (Addl. Charge), BPCL; and Mr. Bhaskar Jyoti  Phukan, MD, NRL. 

These two MoUs demonstrate OIL’s commitment to pursue various strategic diversification initiatives, expanding its portfolio with strong integration across Midstream and Downstream. Collectively, these initiatives reflect OIL’s alignment with the government of India’s vision of Atmanirbhar Bharat—fostering self-reliance, sustainability, and energy security for the nation.

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