Oil India Ltd

Oil India Expansion Update: Refinery Capacity Tripling & Production Targets 🛢️📈

• Numaligarh Refinery expansion from 3 to 9 MMT progressing with CDU/VDU commissioning started December 2025

• Duliajan-Numaligarh pipeline expansion to 2.5 MMT mechanical completion in November 2025, commissioning expected by April 2026

• 9-month consolidated revenue: ₹27,036.78 crores with EBITDA of ₹9,298.62 crores

• Q3 crude oil production: 0.858 MMT (up 1.18% QoQ) with daily production hitting decade high of 9,861 metric tons

• NRL Q3 operating revenue: ₹6,526 crores with gross refinery margin of $16.27 per barrel

• Average crude oil price realization Q3: $62.84 per barrel (down from $73.8 in Q3 FY2025)

• Drilled 51 wells in 9 months, plans for 75+ wells in FY2026 and 100 wells in FY2027

• Future production targets: 7.5 MMTOE in FY2027 and 8.5 MMTOE in FY2028

• NRL debt currently ~₹16,000 crores, expected to rise to ₹25,000-26,000 crores after expansion