NRL Upgraded to Schedule A CPSE, Accelerating Growth and Energy Transition in Northeast India

GUWAHATI: Numaligarh Refinery Limited (NRL), one of the leading Central Public Sector Enterprises (CPSEs) in India, has achieved a significant milestone as it has been upgraded from Schedule B to Schedule A by the Government of India. This elevation in status was officially notified by the Ministry of Petroleum and Natural Gas on July 4th, 2023. The upgradation acknowledges NRL's robust financial performance, operational efficiency, and its valuable contribution to the economic development of the Northeast region.

NRL stands as one of the top 20 CPSEs in India in terms of sales revenue and profitability. Recognized as a high-performing model refinery among Indian PSU refineries, NRL boasts exceptional figures in distillate yield, specific energy consumption, and gross refining margin. Additionally, NRL has made its mark globally by exporting petroleum products to neighboring countries, actively supporting the Act East Policy of the Government of India.

As the largest refinery in Northeast India, NRL currently operates with a capacity of 3 million metric tonnes per annum (MMTPA). However, the company is embarking on an ambitious mega refinery expansion project that aims to triple its refining capacity to 9 MMTPA. Simultaneously, NRL is also laying a trans-national crude oil pipeline from Paradip in Odisha. These endeavors, along with NRL's ongoing investments of Rs. 35,000 crores in the region, stand as significant contributions to the oil and gas sector.

The upgrade to Schedule A status will enable NRL to pursue the coveted Navratna status, granting the company increased financial autonomy. This newfound independence will empower NRL to undertake larger and more complex projects, and make expedited decisions regarding joint ventures, strategic partnerships, and special-purpose vehicles for strategic growth.

Moreover, the upgradation to Schedule A represents a significant boost for NRL's commitment to achieving net-zero goals. NRL is poised to play a critical role in the ongoing energy transition mission within the oil and gas sector in India.

Numaligarh Refinery Limited's upgradation to Schedule A CPSE status marks a major milestone in its journey. With enhanced financial autonomy, NRL is poised to drive economic development, undertake ambitious projects, and actively contribute to the energy transition in the Northeast region of India.

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