Oil India Limited has informed the Exchange regarding a press release dated April 20, 2026, titled "A Major Milestone towards Sustainable Energy Transition".
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Oil India Limited's wholly-owned subsidiary, OIL Green Energy Limited (OGEL), has signed a Memorandum of Understanding with Numaligarh Refinery Limited (NRL) on April 20, 2026. The collaboration focuses on development, procurement, and supply of renewable energy with emphasis on group captive requirements. The MoU was signed in the presence of senior officials from both organisations. This initiative supports OGEL's renewable energy portfolio diversification and scaling up efforts. The agreement aligns with Oil India's net zero target by 2040 and contributes to the Government of India's vision of achieving net zero emissions by 2070.
Positive development for shareholders as it demonstrates Oil India's concrete steps toward its green energy transition goals and diversification beyond traditional oil operations.