OIL, BPCL & NRL Partner for ₹1 Lakh Crore Refinery and ₹3,500 Crore Pipeline Expansion

Oil India Ltd (

) , Bharat Petroleum Corporation Ltd (BPCL), and Numaligarh Refinery Ltd (NRL) have entered into two strategic MoUs aimed at enhancing India’s refining and petroleum logistics network. The first agreement focuses on developing BPCL’s upcoming greenfield refinery and petrochemical complex near Ramayapatnam Port in Andhra Pradesh, featuring a refining capacity of 9–12 MMTPA and a 1.5 MMTPA ethylene cracker unit, with an estimated investment of ₹1 lakh crore. Scheduled for commissioning by FY2030, the project may see OIL taking a minority equity stake as part of the collaboration framework. The second MoU involves constructing a ₹3,500 crore cross-country petroleum product pipeline from Siliguri to Mughalsarai via Muzaffarpur, aligned with NRL’s expansion from 3 MMTPA to 9 MMTPA. The pipeline will be jointly owned by BPCL (50%), OIL (25%), and NRL (25%). These projects mark a significant step toward strengthening India’s refining capacity, improving energy logistics, and supporting long-term energy security in alignment with national growth priorities. Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.