OIL and NRL Reveal Vision 2030: Big Push for Green Hydrogen and Petrochemicals

Oil India Limited (OIL) Chairman Ranjit Rath on Monday unveiled the company’s strategic roadmap for 2030, focusing on upstream expansion, green hydrogen production, and petrochemical ventures. He was joined by Numaligarh Refinery Limited (NRL) Managing Director Bhaskar Phukan, who outlined NRL’s plans for downstream development and refinery capacity enhancement.

At a joint press conference in Guwahati, both executives shared investment targets and recent performance milestones. However, they also faced tough questions from the media regarding the feasibility of their projects, regional equity in energy infrastructure, and environmental sustainability.

OIL’s roadmap includes exploration across 25 new blocks under the OALP Round X, 65% of which lie in ultra-deepwater zones. This drew queries about the financial risks and viability of deepwater operations amid global market uncertainties.

The company reported a Reserve Replacement Ratio (RRR) of 0.94, raising concerns about long-term energy security if new discoveries fail to match current production rates. OIL aims to reduce India’s crude oil import dependency from 88% to 78% by 2040.

Critics questioned the commercial viability of OIL’s proposed 45 KTPA green hydrogen production, citing a lack of confirmed offtakers and market integration plans. Observers also highlighted the disproportionate concentration of renewable energy projects in western India, despite OIL’s significant operations in the Northeast.

NRL’s expansion into petrochemical production—particularly polypropylene and methanol—also faced scrutiny over environmental implications and uncertainty around whether output is intended for domestic use or export.

OIL’s proposal to establish 25 compressed biogas (CBG) plants raised concerns about feedstock availability and risks of underutilization if supply chains remain unsecured.

Despite OIL and NRL’s robust presence in Assam and Arunachal Pradesh, stakeholders expressed disappointment over the absence of a clear roadmap for including local youth, especially from tea-tribe communities, in high-skill employment opportunities in the hydrogen, renewables, and petrochemical sectors.

While both companies defended their initiatives as part of a broader national energy strategy, they acknowledged the need for deeper regional engagement, better transparency, and a more inclusive growth model going forward.

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