Numaligarh Refinery Limited Upgraded to ‘Schedule A’ CPSE
07.06.2023 By TankTerminals.com News - NEWS

July 6, 2023 [Pratidin Time]- Numaligarh Refinery Limited (NRL) has been upgraded from Schedule B to Schedule A CPSE by the Government of India.

 

This is a significant milestone for NRL. The upgradation to Schedule A was notified by the Ministry of Petroleum and Natural Gas on 4 th July 2023. This upgradation to Schedule A recognises NRL’s strong financial performance and operational efficiency and contribution to the economic development of the Northeast region.

NRL ranks among the top 20 CPSEs in India, both in terms of sales revenue and profitability. Among the Indian PSU refineries, NRL is considered as a high performing model refinery with industry leading figures in terms of distillate yield, specific energy consumption and gross refining margin. Marking its international presence, NRL has commenced export of petroleum products to the neighbouring countries and has acted as a catalyst in promoting the Act East Policy of Govt. of India.

NRL is the largest refinery in Northeast India, with a capacity of 3 million metric tonnes per annum (MMTPA) and is currently implementing a mega refinery expansion project to triple its refining capacity to 9 MMTPA along with laying a trans-national crude oil pipeline from Paradip in Odisha. NRL is currently implementing projects involving investments to the tune of Rs. 35,000 crores in the region and is recognised as one of largest investments in the oil and gas sector.

The upgradation to Schedule A will now make NRL eligible to achieve the status of Navratna which in turn will give higher financial autonomy. This will allow the company to undertake larger and more complex projects, take speedy decision in creating joint ventures, strategic partnerships and special purpose vehicles for strategic growth.

The upgradation to Schedule A is a significant boost to NRL’s endeavour towards achieving net zero goals and will play a critical role in the current energy transition mission in the oil and gas sector in the country.

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

ExxonMobil Expands Chemical Production at Baytown
09.21.2023 - NEWS
September 21, 2023 [ExxonMobil]- ExxonMobil today announced the startup of two new chemical produ... Read More
Belvedere Terminals Ups its Planned Investment to $750 Million in Florida
09.21.2023 - NEWS
September 21, 2023 [Observer]-Belvedere Terminals announced Tuesday that it plans to build a tota... Read More
Oil Must Play Major Role in Global Energy Transition, Exxon, Aramco CEOs Say
09.21.2023 - NEWS
September 21, 2023 [Oil & Gas 360]- The heads of Saudi Aramco and Exxon Mobil Corp. took to t... Read More
JERA Global Markets Sells Terminal in the Port of Amsterdam to Rhenus Group
09.21.2023 - NEWS
September 21, 2023 [Port News]- JERA Global Markets Pte. Ltd. and the Rhenus Group jointly announ... Read More