MoU Between OIL Green Energy Limited (OGEL) and Numaligarh Refinery Limited (NRL)

Event Renewable Energy Collaboration

On April 20, 2026, OIL Green Energy Limited (OGEL) and Numaligarh Refinery Limited (NRL) formalized a Memorandum of Understanding (MoU) to establish a framework for the development, procurement, and long-term supply of renewable energy. OGEL, a wholly owned subsidiary of Oil India Limited (OIL), and NRL, a material subsidiary of the same parent company, entered the agreement to integrate renewable power into industrial operations. The collaboration is designed to support the energy requirements of the group’s downstream refining assets through sustainable power sources.

Collaboration Scope and OGEL Mandate

The MoU defines specific areas of cooperation focused on the integration of renewable energy into the corporate value chain. The defined scope includes:

• Development of green energy infrastructure.
• Structured procurement of renewable power.
• Establishment of long-term renewable energy supply arrangements.

OGEL was incorporated on January 31, 2025, as a dedicated vehicle for managing Oil India Limited’s low-carbon and green energy portfolios. The subsidiary is mandated to manage renewable energy assets, green hydrogen and its derivatives, biofuels, geothermal energy, and Carbon Capture, Usage & Sequestration (CCUS) projects.

Group Captive Model and Industrial Integration

A central framework of the agreement is the “group captive” power arrangement, facilitated by the corporate structure of the participating entities. Oil India Limited holds a 69.63% stake in Numaligarh Refinery Limited, while the Government of Assam and Engineers India Limited hold 26% and 4.37% stakes, respectively.

The arrangement provides for OGEL to supply renewable power to NRL’s refinery operations. This supply is intended to support the tripling of refinery throughput from 3 million metric tonnes per annum (MMTPA) to 9 MMTPA under the Numaligarh Refinery Expansion Project (NREP). The renewable energy will support high-intensity units within the expansion, specifically the Petro Fluidized Catalytic Cracking Unit (PFCC) and the Residue Processing & Treating Unit (RPTU), which are integrated for downstream petrochemical production and bottom residue upgradation.

Corporate Strategy: Project Santulan and Net-Zero 2040

The MoU aligns with Oil India Limited’s “Net-Zero 2040” roadmap, which is operationalized through “Project Santulan.” This initiative focuses on a science-based transition toward complete decarbonization. The following table details the interim emission reduction targets relative to the FY 2023-24 base year:

To meet these targets, the company has allocated an investment of approximately ₹20,000 crore under Project Santulan. These funds are directed toward various decarbonization levers, including renewable energy installations, green hydrogen production, the establishment of 25 compressed biogas (CBG) plants, and the electrification of gas-fired equipment.

Signatories and Corporate Leadership

The agreement was signed by primary signatories Rupam Kumar Sarma and Rajeev Kumar Tamuli. The ceremony was attended by the Board of Directors and senior management of the parent company, Oil India Limited, including Chairman and Managing Director Dr. Ranjit Rath. The presence of group leadership underscores the coordination between the parent organization and its subsidiaries in executing the company’s energy transition objectives.