Staff Reporter
Guwahati: Oil India Limited (OIL) and Numaligarh Refinery Limited (NRL) today underscored both companies’ strategic commitment to growth, innovation, and environmental sustainability. With strong financial performance, expanding global ventures, cutting-edge refining technologies, and a rising renewable energy footprint, both entities said they are well-positioned to shape the energy future of India, particularly in the resource-rich Northeast.
OIL and NRL jointly hosted the Media Connect 2025 event today, highlighting major developments, including operational performance and sustainability-driven initiatives. Senior executives from both public sector energy giants presented key achievements, strategic directions, and emerging opportunities across the value chain.
OIL Chairman and Managing Director Dr Ranjit Rath attributed his company’s performance to operational discipline and reservoir management. “Despite working with mature fields that typically decline 8–10% annually, we’ve managed to reverse this trend and achieve a 3–5% production growth year-on-year through strategic reservoir interventions,” he noted.
While the global oil outlook remains cautious, with benchmark prices hovering around USD 60–65 per barrel, Dr Rath emphasized OIL’s focus on long-term exploration. “We are targeting around 80 exploration and development wells, which will support sustainable production growth,” he said.
To consolidate its renewable energy efforts, OIL established Oil India Green Energy Limited (OIGEL) in January 2025. Additionally, in partnership with APGCL, the company formed Green Power Energy Limited, tasked with developing 650 MW of solar capacity in Assam.
Dr Rath further said, “OIL currently operates 14 MW of solar power and 174 MW of wind power, mainly in Rajasthan and Madhya Pradesh. Discussions are ongoing with the Rajasthan government to scale up solar operations.” He also emphasized the logic of developing solar power in high-potential regions like Rajasthan and Leh-Ladakh.
OIL financials in FY 2024–25 were stated as—Revenue: Rs 23,987 crore, Profit After Tax (PAT): Over Rs 6,100 crore (10% YoY growth), Earnings per Share (EPS): Rs 37.59, Dividend Payout: 115% per share.
In his turn, NRL MD Bhaskar Jyoti Phukan outlined the strategic potential of the Kaladan Multi-Modal Transit Transport Project, which connects Mizoram to Myanmar. “We are watching closely. If new highways and export routes open up through Mizoram, NRL will explore business opportunities in those areas,” he said.
Phukan also elaborated on innovative sludge management, using high-velocity centrifuges and bio-remediation with oil-eating microbes. “This ensures that oil residues are recovered, and the remaining sludge is safely reintegrated into the environment,” he explained.
Highlighting NRL’s focus on refining technology, Phukan introduced the calcifying process—an advanced emulsified-phase treatment of vacuum residue. Unlike conventional processes producing petroleum coke, this method enables deeper conversion to distillates, increasing product yield while reducing waste.
NRL showcased impressive operational metrics for FY 2024–25: Distillate yield & Specific Energy Consumption (SEC), said to be among the best in the industry; Energy Intensity Index (EII) improved from 116 to 86, validated by Solomon USA; annual energy savings: Rs 200 crore compared to 2010 levels.
Moreover, NRL quoted the Public Enterprises Survey 2023–24, which ranked the refinery 20th in gross turnover among all CPSEs and 11th in net profit among manufacturing CPSEs.
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