Oil India (OIL) has signed two landmark Memoranda of Understanding (MoUs) with Bharat Petroleum Corporation (BPCL) and Numaligarh Refinery (NRL). 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 a ethylene cracker unit of 1.5MMTPA, represents an estimated investment of Rs 1 lakh crore ($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.
Oil India, a navratna company, is Asia's oldest and biggest pioneer oil exploration and Production Company.
