 "OIL to up stake in Numaligarh Refinery via debt, internal accruals")
Oil India (OIL) is eyeing the role of a vertically integrated oil company with a further stake buy in Numaligarh Refinery (NRL).
Bharat Petroleum Corporation (BPCL) currently has a 61.65 per cent stake in NRL while OIL holds 26 per cent. The Assam government owns 12.35 per cent.
“The existing capacity of the refinery is almost similar to Oil India’s level of crude oil production. There is already some synergy between our businesses. We have a 26 per cent equity stake in NRL. It is the largest crude oil customer of Oil India. We supply crude oil to it through our pipeline
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