Oil India Ltd Inks Strategic Alliances with BPCL and NRL to Boost Growth in Refining, Petrochemicals and Logistics Infrastructure
Oil India Ltd (OIL) has signed two Memoranda of Understanding (MoUs) with Bharat Petroleum Corporation Limited (BPCL) and Numaligarh Refinery Limited (NRL) at the 28th Energy Technology Meet 2025 in Hyderabad. These partnerships are significant milestones in OIL’s integrated growth strategy and reaffirm its commitment to building a sustainable and self-reliant energy future for India. The first MoU is a non-binding agreement between OIL and BPCL to explore collaboration in developing BPCL’s upcoming Greenfield Refinery and Petrochemical Complex near Ramayapatnam Port in Nellore district, Andhra Pradesh. The proposed facility represents an estimated investment of ₹1 lakh crore (US$11 billion) and is anticipated to play a pivotal role in India's downstream sector expansion. The second MoU is a tripartite agreement between OIL, BPCL, and NRL to facilitate efficient evacuation of petroleum products following NRL’s expansion from 3 MMTPA to 9 MMTPA. The three organizations 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 ₹3,500 crore.
Key Highlights
- OIL and BPCL sign MoU to explore collaboration in developing a ₹1 lakh crore Greenfield Refinery and Petrochemical Complex near Ramayapatnam Port.
- The proposed facility will have a refining capacity of 9-12 MMTPA and a ethylene cracker unit of 1.5MMTPA.
- OIL, BPCL, and NRL sign a tripartite MoU to facilitate efficient evacuation of petroleum products following NRL’s expansion from 3 MMTPA to 9 MMTPA.
- The three organizations 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 ₹3,500 crore.
- These partnerships are significant milestones in OIL’s integrated growth strategy and reaffirm its commitment to building a sustainable and self-reliant energy future for India.