NEW DELHI, Sept 14 (Askume) – State explorer Oil India Ltd (OILI.NS) Ltd expects to expand its refinery capacity in the northeastern state of Assam to 180,000 barrels per day (bpd) in the fiscal year ending March 2027, Ranjit Rath said on Saturday.
Rath said Numaligarh Refinery Ltd (NRL), a subsidiary of Indian Oil Corporation, is expanding the plant’s capacity from the current 60,000 barrels per day and laying a crude pipeline to connect the refinery with the Paradip port in the eastern state of Odisha.
“Both projects are on schedule and are expected to be commissioned in December 2025 ,” he said at a press conference.
He said the company will import about 110,000 barrels of crude oil for processing at the expanded refinery.
Indian Oil plans to invest Rs 250 billion ($3 billion) in various projects, including clean energy assets, by 2030.
NRL is also building a 50,000 tonne per annum biorefinery to produce ethanol from bamboo.
Rath said the Assam biorefinery is expected to start ethanol production by the end of September.
Apart from supplying fuel to the northeastern part of the country, NRL also supplies diesel to Bangladesh through a pipeline with an annual capacity of 1 million tonnes.
Rath said that despite the political crisis in Bangladesh, diesel supply has not been disrupted.
“The letter of credit for supplies to Bangladesh is already in place,” he said.
Indian Oil has stakes in two Russian upstream projects, Vankorneft and Tass-Yuryakh. He said its dividend of $250 million was deposited in the Moscow branch of an Indian bank and had not yet been returned.
Other Indian companies also have stakes in both projects. He said the companies are yet to receive dividends worth about $600 billion.
(1 USD = 83.8800 Indian Rupees)
