In a monumental step towards cementing India’s energy security and self-reliance, state-owned Oil India Limited (OIL) has entered into two strategic partnerships with Bharat Petroleum Corporation Limited (BPCL) and Numaligarh Refinery Limited (NRL). The landmark Memorandum of Understanding (MoUs), signed at the 28th Energy Technology Meet in Hyderabad on Tuesday, signal a massive infusion of investment into the nation’s refining, petrochemical, and logistics infrastructure.
The most ambitious of the two agreements is a collaborative framework between OIL and BPCL to build a ₹1 Lakh Crore (approximately US$11 billion) integrated Greenfield Refinery and Petrochemical Complex at Ramayapatnam in Andhra Pradesh. Slated to be the first of its kind in South India, the facility will boast a refining capacity of 9–12 Million Metric Tonnes Per Annum (MMTPA) and a 1.5 MMTPA ethylene cracker unit. The project, which has already secured 6,000 acres of land and key clearances, is targeted for commercial operations by the fiscal year 2030.
Under the non-binding MoU, the companies will explore collaboration opportunities, including a potential minority equity stake for OIL in the joint venture. This project is anticipated to be a cornerstone of India’s downstream sector expansion.
Dr Ranjit Rath, Chairman & Managing Director of Oil India Limited and Chairman of Numaligarh Refinery Limited, emphasised the strategic nature of the move. “This collaboration reaffirms our commitment to pursue various strategic diversification initiatives to Midstream and Downstream,” he stated. “By partnering with BPCL, OIL and NRL look forward to leveraging our collective strengths to unlock value creation and contribute to the nation’s energy security and distribution infrastructure. This collaboration also embodies OIL’s strategic intent to diversify into integrated energy ventures that support sustainable national growth.”
Echoing the sentiment, Sanjay Khanna, Director (Refineries) with additional charge of Chairman & Managing Director, BPCL, said, “This collaboration marks a significant milestone in our journey to build world-class refining and petrochemical infrastructure in southern 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 reinforce India’s self-reliance in fuels and petrochemicals, in line with the vision of Atmanirbhar Bharat.”
In a parallel development, OIL, BPCL, and NRL signed a tripartite MoU for a ₹3,500 crore cross-country product evacuation pipeline project. This initiative is designed to facilitate the efficient transport of petroleum products following NRL’s significant expansion from 3 MMTPA to 9 MMTPA. The proposed pipeline will stretch from Siliguri to Mughalsarai via Muzaffarpur and will include the augmentation of depot infrastructure. The ownership of this crucial logistics project will be shared between BPCL (50%), OIL (25%), and NRL (25%).
The agreements, signed in the presence of Pankaj Jain, Secretary of the Ministry of Petroleum and Natural Gas, represent a cohesive strategic push. Collectively, they underscore a significant shift for OIL into integrated energy ventures and powerfully align with the Government of India’s vision for an Atmanirbhar Bharat, fostering long-term energy security and sustainable growth for the nation.
