Introduction
No Disruptions in Diesel Exports to Bangladesh: Oil India Chairman
The recent crisis in Bangladesh has raised concerns about the country’s economy and trade relations with neighboring countries. However, in a recent statement, Oil India Chairman Ranjit Rath has assured that the company is not facing any hindrances in payments or the export of diesel to Bangladesh. This news comes as a relief to the crisis-ridden country, which has been struggling to maintain its economic stability.
No Disruptions in Diesel Exports
Oil India Chairman Confirms Smooth Operations
In a media briefing post the company’s annual general meeting, Rath stated that the letter of credit (LC) mechanism is in place and there is no "payment problem" regarding the export of diesel to Bangladesh. Additionally, the expansion plans for Numaligarh Refinery (NRL), a subsidiary of Oil India, have not been impacted by the unrest in Bangladesh.
Expansion Plans on Track
NRL’s Capacity to Increase by 2025
Rath noted that NRL’s expansion plans are on track and are set to be commissioned by December 2025. The refinery is increasing its capacity from 6 million tonnes per annum (MTPA) to 9 MTPA. Apart from the refinery expansion, NRL is also setting up a crude oil import terminal at Paradip (Odisha) and will lay a 1,640 km pipeline to transport crude oil to its home base in the Golaghat district of Assam.
New Drilling Program
Targeting Over 75 Wells in FY25
Rath also mentioned that the Maharatna company targets drilling over 75 wells in FY25 as part of its new drilling program. The exploration & production (E&P) company drilled 38, 45, and 61 wells in FY22, FY23, and FY24, respectively. "From 45 to 61 wells, it represents a 35 per cent annual growth," he added.
Conclusion
No Disruptions in Diesel Exports to Bangladesh
In conclusion, Oil India Chairman Ranjit Rath has assured that the company is not facing any hindrances in payments or the export of diesel to Bangladesh. The expansion plans for Numaligarh Refinery are on track, and the company is targeting over 75 wells in FY25 as part of its new drilling program.
Frequently Asked Questions
FAQs
Q: Is Oil India facing any disruptions in diesel exports to Bangladesh?
No, according to Oil India Chairman Ranjit Rath, the company is not facing any hindrances in payments or the export of diesel to Bangladesh.
Q: What is the current capacity of Numaligarh Refinery?
The current capacity of Numaligarh Refinery is 6 million tonnes per annum (MTPA).
Q: What is the target capacity of Numaligarh Refinery by 2025?
The target capacity of Numaligarh Refinery is 9 MTPA by 2025.
Q: What is the new drilling program of Oil India targeting?
The new drilling program of Oil India is targeting over 75 wells in FY25.
Q: What is the annual growth rate of Oil India’s drilling program?
The annual growth rate of Oil India’s drilling program is 35 per cent, representing a growth from 45 to 61 wells drilled in FY23 and FY24, respectively.
