Three companies strike major deal: a refinery worth Rs 1 lakh crore and a pipeline worth Rs 3,500 crore
In a major partnership in the oil sector, Oil India Ltd (OIL), Bharat Petroleum Corporation Ltd (BPCL), and Numaligarh Refinery Ltd (NRL) signed two key agreements on Tuesday. The agreements were signed during the 28th Energy Technology Meet 2025 in Hyderabad, in the presence of Petroleum Ministry Secretary Pankaj Jain.
Investment of Rs 1 lakh crore
The first agreement involves the development of BPCL’s new greenfield refinery and petrochemical complex, which will be built near the Ramayapatnam Port in Nellore district, Andhra Pradesh. This refinery will have a capacity of 9 to 12 MMTPA and will include a 1.5 MMTPA ethylene cracker unit. The total investment is estimated at Rs 1 lakh crore (approximately $11 billion). The refinery could be operational by FY2030.
OIL will consider acquiring a minority stake in this project. The Andhra Pradesh government has already granted 6,000 acres of land and several necessary approvals for the project.
A ₹3,500 crore pipeline will be built.
The second agreement signed between the three companies involves the construction of a ₹3,500 crore pipeline to transport petroleum products from Siliguri to Mughalsarai. This pipeline will pass through Muzaffarpur. BPCL will have a 50 percent stake in this project, 25 percent for OIL, and 25 percent for NRL.
OIL Chairman and NRL Head Dr. Ranjit Rath stated that this partnership will strengthen India’s energy security in the midstream and downstream sectors. BPCL Director Sanjay Khanna stated that the Ramayapatnam complex will play a key role in realizing the vision of a self-reliant India.
