OIL inks ₹1 Lakh Cr refinery JV with BPCL, ₹3,500 Cr pipeline with BPCL & NRL for growth
Oil India Limited (OIL) inks two strategic MoUs with BPCL and NRL for a ₹1 Lakh Crore refinery and a ₹3,500 Crore pipeline, boosting refining, petrochemicals, and logistics infrastructure.
The alliances involve a ₹1 Lakh Crore greenfield refinery and a ₹3,500 Crore pipeline, representing substantial capital outlays and strategic diversification for OIL. These projects are long-term, aim to expand capacity, and are critical for India's energy security, thus having a high impact on OIL's growth and market position.
The announcement details strategic alliances and significant investments totaling over ₹1 Lakh Crore, including a major refinery and a product pipeline. These initiatives indicate strong growth prospects, diversification into midstream and downstream sectors, and enhanced energy security for India, all contributing to a positive outlook for OIL.
Oil India Limited (OIL) has signed two significant Memoranda of Understanding (MoUs) with Bharat Petroleum Corporation Limited (BPCL) and Numaligarh Refinery Limited (NRL) on October 28, 2025, during the 28th Energy Technology Meet 2025 in Hyderabad. These alliances aim to boost growth across refining, petrochemicals, and logistics infrastructure, aligning with OIL's integrated growth strategy and India's energy future.
Key collaborations include: * Integrated Ramayapatnam Greenfield Refinery & Petrochemical Complex: * OIL and BPCL entered a non-binding MoU to explore collaboration on BPCL’s upcoming Greenfield Refinery and Petrochemical Complex near Ramayapatnam Port, Nellore district, Andhra Pradesh. * This facility will have a refining capacity of 9–12 MMTPA and an ethylene cracker unit of 1.5 MMTPA. * The estimated investment is ₹1 Lakh Crore (US$11 billion). * Commercial operations are anticipated by FY 2030. * OIL will evaluate taking a minority equity stake in the proposed joint venture. * Cross-Country Product Evacuation Pipeline: * OIL, BPCL, and NRL signed a tripartite MoU for a ₹3,500 Crore cross-country petroleum product pipeline from Siliguri to Mughalsarai via Muzaffarpur. * This project, including augmentation of Depo infrastructure, will facilitate efficient evacuation of petroleum products following NRL’s expansion from 3 MMTPA to 9 MMTPA. * Ownership will be BPCL (50%), OIL (25%), and NRL (25%).
Dr. Ranjit Rath, Chairman & Managing Director, Oil India Limited, stated that these collaborations reaffirm OIL's commitment to strategic diversification into Midstream and Downstream, leveraging collective strengths for value creation and national energy security. Mr. Sanjay Khanna, Director (Refineries) with additional charge of Chairman & Managing Director, BPCL, emphasized that the Ramayapatnam complex will reshape BPCL’s portfolio and reinforce India’s self-reliance in fuels and petrochemicals.
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