Numaligarh Refinery plans 350 billion investment in 5 years

The Assam-based Numaligarh Refinery (NRL) has announced its intention to invest more than Rs 350 billion in various projects over the next five years. The company is actively working on several significant projects, including the Numaligarh Refinery Expansion Project (NREP), Paradip Numaligarh Crude Oil Pipeline (PNCPL), Crude Oil Import terminal at Paradip (COIT), and the 2G Ethanol Project (JV project). During the year, approval was granted for a 360 KTPA Polypropylene project with a cost of Rs 72.31 billion. The 30th Annual General Meeting of Numaligarh Refinery (NRL) took place in Guwahati. The meeting was led by Dr R Rath, Chairman NRL and CMD OIL, through virtual mode, and was attended by B J Phukan, MD, NRL. A final dividend of Rs 2.35 billion for the fiscal year 2022-23 was declared during the AGM. An interim dividend of Rs. 8.82 billion for the same fiscal year had already been paid. Consequently, the total dividend payout for the fiscal year 2022-23 reached Rs 11.18 billion, which corresponds to 30.20% of NRL's Profit After Tax (PAT) for the year. For the very first time since its inception, the Refinery managed to achieve a capacity utilisation of over 100%, processing 3,091 TMT of crude oil. With a high level of operational throughput and efficiency, the refinery attained its highest-ever Distillate Yield of 87.7% and the best-ever Specific Energy Consumption (SEC) of 61.7 MBN. The favourable international prices of both crude oil and products, combined with the refinery's strong physical performance, led to the highest-ever Gross Refinery Margin (GRM) of $19.86/ bbl during the fiscal year 2022-23. There was an improvement in product sales, totalling 3,016 TMT compared to the previous year's 2,802 TMT. Sales within the Northeast region amounted to 1,259 TMT, showing an increase of more than 11% from the previous year's sales of 1,133 TMT. This reflected a positive demand outlook across the North East states. Additionally, sales for the year included 50 TMT of Gas Oil exported to Bangladesh. Also read:  Low-grade imports raise India's coal emissions  Coal Ministry pledges $2.6 billion for railway projects