In front of Pankaj Jain, Secretary of the Ministry of Petroleum and Natural Gas (MoPNG), Oil India Limited (OIL) signed two significant Memoranda of Understanding (MoUs) with Bharat Petroleum Corporation Limited (BPCL) and Numaligarh Refinery Limited (NRL) at the 28th Energy Technology Meet.
These agreements reinforce OIL's commitment to a sustainable and independent energy sector in India and represent a significant step in the company's integrated expansion plan spanning refining, petrochemicals, and logistics infrastructure.
The firms will investigate working together on the construction of BPCL's future Greenfield Refinery and Petrochemical Complex close to Ramayapatnam Port in Andhra Pradesh as part of the first Memorandum of Understanding.
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With an anticipated investment of ₹1 lakh crore (US$11 billion), the projected facility will have a refining capacity of 9–12 MMTPA and an ethylene cracker unit of 1.5 MMTPA.
FY 2030 is the objective for commercial operations. OIL may acquire a minority equity position in the joint venture as part of the cooperation.
The Andhra Pradesh government has granted the project important statutory approvals and 6,000 acres of land, and pre-project work is currently in progress.
Dr Ranjit Rath, Chairman & Managing Director of OIL and Chairman of NRL, stated “This collaboration reflects our strategic focus on midstream and downstream diversification. By joining forces with BPCL, we aim to leverage our combined capabilities to enhance energy security, create long-term value, and strengthen India’s refinery and petrochemical ecosystem. OIL is committed to integrated energy ventures that support sustainable national growth.”
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