Oil India Limited , a Maharatna Central Public Sector Enterprise, has unveiled ambitious plans to significantly expand its Numaligarh Refinery capacity, marking a major step towards India's energy independence vision for 2047.

Refinery Expansion Plans

Oil India has announced a substantial increase in the processing capacity of its Numaligarh Refinery. The company aims to triple the refinery's capacity from the current 60,000 barrels per day (BPD) to an impressive 180,000 BPD by December 2025. This expansion represents a significant boost to India's domestic refining capabilities and aligns with the nation's goal of achieving energy independence.

Strategic Importance

The expansion of the Numaligarh Refinery is part of Oil India's broader strategy to build a resilient, diversified, and sustainable energy future for India. This initiative supports the national priorities of 'Atmanirbhar Bharat' (Self-Reliant India) and 'Viksit Bharat' (Developed India), as highlighted by Dr. Ranjit Rath, Chairman & Managing Director of Oil India, during the company's 66th Annual General Meeting (AGM).

Fuel Supply Discussions

An Oil India executive recently engaged in discussions with other state retailers regarding fuel supply arrangements from the expanded Numaligarh Refinery. The talks focused on supply coordination between the refinery and various state-owned retail entities, highlighting the strategic importance of the expansion project in the broader context of India's fuel distribution network.

Additional Developments

In addition to the refinery expansion, Oil India is making strides in other areas:

1. World's First Bamboo-based Bio-Ethanol Plant: The company recently inaugurated this innovative plant at Numaligarh, Assam, demonstrating its commitment to bio-energy transition and local resource utilization.

2. Polypropylene Plant: A new 360 KTPA polypropylene plant is planned at Numaligarh, with an estimated project cost exceeding Rs. 7,000 crore.

3. Renewable Energy Initiatives: Oil India is scaling up investments in renewables, green hydrogen, biofuels, and compressed biogas (CBG).

4. Sustainable Aviation Fuel: Plans are underway for India's first large-scale Sustainable Aviation Fuel (SAF) facility.

Financial Performance

Oil India's expansion plans are backed by strong financial performance. The company reported:

Environmental Commitments

Aligning with India's Net Zero 2070 goal, Oil India has made significant progress towards its own Net Zero 2040 target, including a 59% reduction in flaring over the previous year and implementation of various CO₂ emission abatement and energy efficiency measures.

The expansion of the Numaligarh Refinery, coupled with Oil India's diverse energy initiatives, positions the company as a key player in India's journey towards energy independence and sustainability. As the nation progresses towards its energy goals for 2047, Oil India's strategic investments and expansions are set to play a crucial role in shaping the country's energy landscape.

Oil India Limited (OIL), a Maharatna CPSE under the Government of India, recently held its 66th Annual General Meeting (AGM), showcasing a year of unprecedented achievements and robust financial performance. Dr. Ranjit Rath, Chairman & Managing Director of OIL, addressed shareholders, highlighting the company's significant strides in production, financial growth, and sustainable initiatives.

Record-Breaking Production

OIL achieved its highest-ever oil and oil-equivalent gas (O+OEG) production of 6.710 MMTOE since inception. The company also reported its highest-ever natural gas production of 3,252 MMSCM, marking a significant milestone in its operational history.

Strong Financial Performance

The financial results for the year were equally impressive:

Despite global market volatility, OIL maintained a robust capital investment program exceeding ₹18,000 crore on a consolidated basis while ensuring healthy dividend payouts to shareholders.

Innovative Projects and Sustainability Initiatives

Dr. Rath announced several groundbreaking projects aligned with India's energy transition goals:

1. World's First Bamboo-based 2-G Bio Ethanol Plant: Inaugurated by the Prime Minister in Numaligarh, Assam.
2. 360 KTPA Polypropylene Plant: Foundation stone laid for this ₹7,000+ crore project at Numaligarh.
3. Net Zero 2040 Target: OIL reported a 59% reduction in flaring compared to the previous year.
4. Renewable Energy Investments: The company is scaling up investments in renewables, green hydrogen, biofuels, and Compressed Biogas (CBG).

Technological Advancements

OIL has deployed cutting-edge technologies to enhance its operations:

• Propellant stimulation
• Fishbone drilling
• AI-based reservoir modeling

These innovations aim to unlock reserves, optimize costs, and improve recovery rates.

Corporate Social Responsibility

The company reaffirmed its commitment to social development, investing in healthcare, education, skill development, sports, and sustainable livelihoods across its operational areas.

Future Outlook

Dr. Rath expressed confidence in OIL's position to lead India's energy transition, stating, "OIL is well positioned to lead India's energy journey — from oil and gas to clean, sustainable and technologically advanced solutions — powering the nation's growth while creating enduring value for generations to come."

As Oil India Limited continues to align with national priorities such as Atmanirbhar Bharat and Viksit Bharat, it remains focused on contributing to India's goal of energy independence by 2047, as envisioned by the Prime Minister.

The 66th AGM, conducted through video conferencing, concluded with a vote of thanks by Shri Rupjyoti Phukan, Resident Chief Executive, marking another successful year for this energy giant in its journey towards a sustainable and energy-secure future for India.