State-run Oil India (OIL) Chairman Ranjit Rath said on Saturday that the company is not facing any hindrances in payments or the export of diesel to crisis-ridden Bangladesh.
OIL’s subsidiary, Assam-based Numaligarh Refinery (NRL), exports diesel to Bangladesh, where an interim government has been formed after Prime Minister Sheikh Hasina resigned and fled the country following mass protests last month.
In a media briefing post the company’s annual general meeting, Rath said that the letter of credit (LC) mechanism is in place and there is no “payment problem” regarding the export of diesel to Bangladesh. Moreover, the expansion plans for Numaligarh Refinery have also not been impacted by the unrest in Bangladesh.
“I am very happy to report that there is no disruption at all. There is no disruption of movement...The India-Bangladesh Friendship Pipeline, laid from Siliguri to Parbatipur in Bangladesh, is functioning smoothly. Absolutely no disruption. We are pushing diesel utilising that particular pipeline,” he assured.
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Expansion plans
Rath noted that NRL’s expansion plans are on track and are set to be commissioned by December 2025. NRL is increasing capacity at its refinery from 6 million tonnes per annum (MTPA) to 9 MTPA.
The refinery is also setting up a crude oil import terminal at Paradip (Odisha) and will lay a 1,640 km pipeline to transport crude oil to its home base in the Golaghat district of Assam.
Apart from the refinery expansion, NRL is also setting up a crude oil import terminal at Paradip on the Odisha coast and laying a 1,640 km pipeline to transport imported crude oil to its home base, Numaligarh, in the Golaghat district.
Rath said that the Maharatna company targets drilling over 75 wells in FY25 as part of its new drilling programme. The exploration & production (E&P) company drilled 38, 45, and 61 wells in FY22, FY23, and FY24, respectively.
“From 45 to 61 wells, it represents a 35 per cent annual growth,” he added.