Oil India Subsidiary Enters MoU with Numaligarh Refinery for Renewable Energy Transition
OIL Green Energy Limited (OGEL), a wholly owned subsidiary of Oil India Limited, has signed a Memorandum of Understanding (MoU) with Numaligarh Refinery Limited (NRL). The agreement, executed on April 20, 2026, aims to foster collaboration in the development, procurement, and supply of renewable energy. The partnership places special emphasis on fulfilling group captive energy requirements.The MoU was signed by Rajeev Kumar Tamuli, General Manager at OGEL, and Rupam Kumar Sarma, General Manager (Technical Services) at NRL. The signing ceremony was attended by senior officials from both organizations, including the Chairman of NRL, the CMD of OIL, the Managing Director of NRL, Directors of both OIL and NRL, and the CEO of OGEL.
This collaboration represents a major milestone in Oil India Limited's (OIL) strategic efforts to integrate renewable energy into its operations. Beyond meeting captive energy requirements for its group entities, the initiative is set to facilitate the diversification and scaling up of OGEL's renewable energy portfolio. The partnership supports Oil India Limited's commitment to achieving its net zero target by 2040, while also contributing to the Government of India's broader vision of reaching net zero emissions by 2070.
OIL Stock Price Movement
Today, Oil India Limited shares edged higher to close at ₹471.7, rising 0.02% on strong trading. The stock settled amid a robust day, recording a total volume of 3.43 million shares.Source:
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