Acquisition of NRL shares will ensure energy security of India: Oil India
Bharat Petroleum Corporation Ltd on March 25 sold its entire 61.5 per cent stake in NRL to a consortium of OIL and Engineers India and the Assam government for Rs 9,876 crore.
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GUWAHATI: Oil India Limited (OIL) on Tuesday said its acquisition of shares of Numaligarh Refinery Ltd (NRL) in Assam will be a synergy for mutual growth, ensure energy security of the nation, besides partially mitigating the effect of volatility of crude price cycle.
Bharat Petroleum Corporation Ltd on March 25 sold its entire 61.5 per cent stake in NRL to a consortium of OIL and Engineers India and the Assam government for Rs 9,876 crore. OIL bought a 54.16 per cent stake to raise its shareholding in the refinery to 80.16 per cent.
OIL-NRL partnership: A synergy for mutual growth & energy security
The OIL (Oil India Limited) and NRL (Numaligarh Refinery Limited) together is all set to a pivotal role in contributing towards fulfilling the vision of ‘Act East Policy’
| 14 April 2021 1:39 AM GMT
GUWAHATI: The OIL (Oil India Limited) and NRL (Numaligarh Refinery Limited) together is all set to a pivotal role in contributing towards fulfilling the vision of Act East Policy , said OIL CMD (Chairman & Managing Director) and NRL Chairman Sushil Chandra Mishra in the presence of NRL Managing Director S.K Barua while addressing the media here on Tuesday.
Mishra pointed out, The Central Government and the State Government have laid huge emphasis on the Act East Policy with focus on creating long-lasting business relations with the neighbouring countries on the North Eastern frontiers of our country. OIL and NRL have a very special place in the hearts of the people of Assam where both the companies have
OIL acquires majority shares in Assam’s Numaligarh Refinery Limited
Updated:
Updated:
April 14, 2021 13:22 IST
Oil India Limited now has 80.16% stakes in the Numaligarh Refinery, often referred to as Assam Accord Refinery as its establishment was one of the conditions of the 1985 Assam Accord.
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The Numaligarh refinery in Assam.
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The Hindu Archives
Oil India Limited now has 80.16% stakes in the Numaligarh Refinery, often referred to as Assam Accord Refinery as its establishment was one of the conditions of the 1985 Assam Accord.
A ‘local’ oil exploration major has acquired more than 80% stakes in an Assam refinery which germinated in an anti-foreigners movement more than 40 years ago.
GUWAHATI:
Oil India Limited (OIL) on Tuesday said its acquisition of shares of Numaligarh Refinery Ltd (NRL) in Assam will be a synergy for mutual growth, ensure energy security of the nation, besides partially mitigating the effect of volatility of crude price cycle.
Bharat Petroleum Corporation Ltd on March 25 sold its entire 61.5 per cent stake in NRL to a consortium of OIL and Engineers India and the Assam government for Rs 9,876 crore. OIL bought a 54.16 per cent stake to raise its shareholding in the refinery to 80.16 per cent.
Addressing a press conference here, OIL CMD and NRL Chairman Sushil Chandra Mishra said that for OIL, the majority acquisition of shares of NRL is not only a strategic business decision but one of the defining moments of its journey as an exploration and production (E&P) company looking for vertical integration in the oil and gas value chain.
Abducted oil employees released in Northeast The Ulfa (I), whose stated goal is “sovereignty” for Assam, had reportedly sought Rs 20 crore for the release of the duo
Two employees of an oil drilling company, who were abducted by rebels from Changlang district in Arunachal Pradesh on December 21 last year, have been released.
While Ulfa (Independent) released Ram Kumar, 35, in Mon district of Nagaland on Monday morning, his colleague Pranab Kumar Gogoi, 51, was set free at Nampong in Changlang district on April 1.
Lt Col Sumit K. Sharma, public relations officer (defence), based in Kohima, said in a two-paragraph statement that a patrolling team of the Mon battalion of Assam Rifles intercepted Kumar, a radio operator with the New Delhi-based Quippo Oil & Gas Infrastructure Limited, at Lungwa village along the border with Myanmar.