• Source:JND
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India’s diesel exports to Bangladesh remain uninterrupted despite political unrest in Bangladesh, Oil India Ltd (OIL) chairman and managing director Rajit Rath said. Speaking on Saturday, Rajit Rath confirmed that Numaligarh Refinery in Assam continues to supply diesel to Bangladesh through a dedicated pipeline, with no disruptions in business operations.

The exports are facilitated through the Siliguri-Parbatipur pipeline, which spans 5.156 kilometres in India and 124.346 kilometres in Bangladesh. The OIL chairman stated that all financial processes, including the letter of credit for diesel supplies, are in place, and there have been no payment issues from Bangladesh. "There is no disruption," he reiterated.

Numaligarh Refinery Ltd (NRL), a subsidiary of Oil India, has been exporting diesel to Bangladesh since 2015, initially via rail and more recently through the India-Bangladesh Friendship Pipeline (IBFPL), which became operational last year. The refinery, which currently has a capacity of 3 million tonnes per annum (MTPA), exports around 4,00,000 tonnes of diesel annually through the pipeline.

OIL Chairman Rajit Rath also highlighted the strategic significance of the Bangladesh market for Numaligarh Refinery, stating that the neighbouring country is poised to remain a major buyer of its petroleum products. Bangladesh’s proximity and demand make it an ideal market for the refinery's expanding output.

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In terms of infrastructure, the Numaligarh Refinery is undergoing a significant capacity expansion. The refinery aims to increase its capacity from 3 MTPA to 9 MTPA through the installation of a 6 MTPA refinery, new crude oil terminals and pipelines. 

Additionally, the expansion project includes the construction of a 1,635-kilometre crude oil pipeline from Paradip port in Odisha to Numaligarh in Assam, designed to transport 5.5 million tonnes of crude oil annually. Full-scale production from the expanded facility is expected by the financial year 2026-27.

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Regarding Oil India Ltd’s overseas ventures in Russia, Chairman Ranjit Rath stated that the company has not yet repatriated around USD 250 million in dividends from its investments in the Vankorneft and Tass-Yuryakh oilfields. The funds are currently held in the Moscow branch of an Indian bank, with Western sanctions imposed on Russia following the Ukraine conflict complicating the process of bringing the money back to India. 

Other Indian companies with stakes in these projects also face similar challenges, with the total unrepatriated dividend potentially reaching up to USD 900 million.