India’s second largest oil and gas exploration and production company, State-run Oil India Limited (OIL), will pick up a majority stake in standalone oil refinery, Numaligarh Refineries Limited (NRL). The consolidation of operations of OIL and State-run NRL comes close on the heels of the latter entering into the oil and gas exploration business vertical having acquired participatory interest in two blocks in the north-eastern state of Assam.
