At the 28th Energy Technology Meet 2025 held in Hyderabad, Oil India Limited (OIL) signed two historic Memorandums of Understanding (MoU) 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 important 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.
At the 28th Energy Technology Meet 2025, Oil India Limited signed two MoUs with BPCL and NRL to advance India’s refining, petrochemical and logistics infrastructure. The deals include collaboration on BPCL’s ₹1 lakh crore (~$11 billion) Ramayapatnam refinery project and a ₹3,500 crore (~$385 million) tripartite pipeline, reinforcing OIL’s strategy for sustainable and self-reliant energy growth.
OIL and BPCL signed a non-binding MoU to explore collaboration in the development of 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 cracking unit of 1.5 MMTPA, represents an estimated investment of ₹1 lakh crore (USD 11 billion) and is expected to play a pivotal role in the expansion of India’s downstream sector. The project is scheduled to enter commercial operations by fiscal year 2030.
According to the MoU, the companies will evaluate opportunities for collaboration, including the possibility of OIL acquiring a minority equity stake in the proposed joint venture. The project has already secured key legal clearances and 6,000 acres of land from the Government of Andhra Pradesh, and pre-project activities are underway.
Speaking on the occasion, Dr. Ranjit Rath, Chairman and Managing Director, Oil India Limited and Chairman, Numaligarh Refinery Limitedstated, “This collaboration reaffirms our commitment to undertake various strategic diversification initiatives for Midstream and Downstream. By partnering with BPCL, OIL and NRL hope to leverage 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 intention to diversify into integrated energy companies that support sustainable national growth.”
Mr. Sanjay Khanna, Director (Refineries) with additional charge of Chairman and Managing Director, BPCLsaid, “This collaboration marks an important milestone in our journey to build world-class refining and petrochemical infrastructure in South 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 bolster India’s self-sufficiency in fuels and petrochemicals, in line with the vision of Atmanirbhar Bharat.”
In another important development, OIL, BPCL and NRL signed a tripartite MoU to facilitate efficient evacuation of petroleum products following the expansion of NRL from 3 MMTPA to 9 MMTPA.
Under this MoU, the three organizations will jointly explore the development of a cross-country 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%).
The MoUs were signed in the presence of Mr. Pankaj Jain, Secretary, MoPNG; Dr. Ranjit Rath, CMD, OIL & Chairman, NRL, Mr. Sanjay Khanna, Director (Refineries) & C&MD (Additional Charge), BPCL; and Mr. Bhaskar Jyoti Phukan, MD, NRL.
These two MoUs demonstrate OIL’s commitment to undertake various strategic diversification initiatives, expanding its portfolio with strong integration in Midstream and Downstream. Together, these initiatives reflect OIL’s alignment with the Government of India’s vision of Atmanirbhar Bharat: fostering self-reliance, sustainability and energy security of the nation.
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ALCHEMPro news desk (HU)
