India Energy Week 2026: Policy push lifts prospects for OIL, NRL; MoUs expected in Goa

-- Mrinal Talukdar 

The inauguration of India Energy Week (IEW) 2026 here on Tuesday has brought a major policy boost for Assam’s energy majors, Oil India Limited (OIL) and Numaligarh Refinery Limited (NRL), with both companies expected to sign a series of strategic memoranda of understanding (MoUs) over the next two days on the sidelines of the event.

Prime Minister Narendra Modi reference to the Oilfields (Regulation and Development) Amendment Act, 2025, in his inaugural address is being seen as a significant enabler for upstream activity in the Northeast. The new framework, which introduces single petroleum leases and time-bound approvals, is expected to accelerate exploration and appraisal work by OIL in the Brahmaputra basin and adjoining frontier areas, long considered among India’s most prospective but underexplored regions.

Senior industry officials said the reforms would reduce regulatory delays and provide greater operational certainty, allowing OIL to fast-track seismic surveys, drilling programmes and partnerships with global technology players. Several MoUs linked to exploration services, digital subsurface studies and enhanced recovery techniques are likely to be formalised during IEW 2026, they added.

For NRL, the national thrust on cleaner fuels and logistics-led growth has placed the Assam-based refinery firmly within India’s long-term energy strategy. The government’s push towards 20 per cent ethanol blending, rapid scale-up of bioenergy and compressed biogas, and the USD 8 billion maritime and shipbuilding package directly align with NRL’s ongoing expansion and integration plans.

As India targets a refining capacity of over 300 million tonnes per annum and positions itself as a global refining hub, officials said capacity upgrades at Numaligarh are now integral to the country’s “Act East” energy vision. MoUs expected to be signed by NRL during the event include agreements related to green fuels, logistics, and downstream value-chain expansion.

India Energy Week 2026, being held in Goa, has drawn over 75,000 energy professionals, more than 700 exhibitors and delegates from over 120 countries, underlining its growing stature as a global energy platform. For Assam, the outcomes of the event are expected to translate into fresh investments, faster project execution and a stronger role in India’s evolving energy map. (EOM)

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