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Acquisition of NRL shares will ensure energy security of India: Oil India
Bharat Petroleum Corporation Ltd on March 25 sold its entire 61.5 per cent stake in NRL to a consortium of OIL and Engineers India and the Assam government for Rs 9,876 crore.
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GUWAHATI: Oil India Limited (OIL) on Tuesday said its acquisition of shares of Numaligarh Refinery Ltd (NRL) in Assam will be a synergy for mutual growth, ensure energy security of the nation, besides partially mitigating the effect of volatility of crude price cycle.
Bharat Petroleum Corporation Ltd on March 25 sold its entire 61.5 per cent stake in NRL to a consortium of OIL and Engineers India and the Assam government for Rs 9,876 crore. OIL bought a 54.16 per cent stake to raise its shareholding in the refinery to 80.16 per cent.