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The Legacy of Oil India Ltd dates back to 1889 when the first commercial discovery of crude oil in the country was made in Digboi, Assam. From a humble beginning in the tropical rainforests of Digboi, search for hydrocarbons in India gathered momentum. Independent India’s first discovery of hydrocarbon was made at Naharkatia in 1953. In 1959, Oil India Private Limited was incorporated as a rupee company to take over Burmah Oil Company’s affairs in Assam. By 1981, Government took over OIL and it became a full-fledged PSU. In 2012, OIL forayed into harnessing renewable energy by setting up solar Power Plants and wind farms on a commercial scale to diversify its energy portfolio. In 2018, the Company ventured into the City Gas Distribution (CGD) projects. On March 25th, 2021, OIL acquired majority stake in Numaligarh Refinery Limited (NRL). In 2023, OIL was bestowed the prestigious Maharatna status, thus making the company the 13th Maharatna Central Public Sector Enterprise.
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