Mumbai, October 29 (Udaipur Kiran): Shares of Oil India Limited (OIL) edged higher on Tuesday after the company announced it had signed two significant Memoranda of Understanding (MoUs) with Bharat Petroleum Corporation Limited (BPCL) and Numaligarh Refinery Limited (NRL). The stock was trading at Rs. 416.95, up by 1.03% from its previous close of Rs. 412.70 on the BSE.
The scrip opened at Rs. 414.60 and recorded an intraday high and low of Rs. 414.60 and Rs. 413.35, respectively, with a total of 2,616 shares traded so far. The company’s market capitalisation currently stands at Rs. 67,130.10 crore.
Oil India has signed the MoUs as part of its integrated growth strategy in refining, petrochemicals, and logistics infrastructure, aimed at fostering a sustainable and self-reliant energy future for India.
Under the agreement, OIL and BPCL will explore collaboration for BPCL’s proposed Greenfield Refinery and Petrochemical Complex near Ramayapatnam Port in Nellore district, Andhra Pradesh. The project, expected to cost around Rs. 1 lakh crore (approximately $11 billion), will have a refining capacity of 9–12 million metric tonnes per annum (MMTPA) and include an ethylene cracker unit of 1.5 MMTPA. The facility is targeted for commercial operations by FY 2030 and is seen as a key development in India’s downstream sector expansion.
Oil India, a Navratna PSU, is Asia’s oldest and one of the largest oil exploration and production companies, playing a pivotal role in India’s energy landscape.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
