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Last Updated on 10/01/2020
Managing Director's Messages

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  MD's Message  

MD’s NRL Day Message


MD’s Message on NRL Day'2010

Dear Colleague,

On the occasion of the 18 th Foundation Day of NRL, I would like to convey my heartiest greetings to you and your family. So far, this has been an eventful yet uniformly gratifying experience.

Looking back, the last 17 years have been nothing less than a saga replete with milestones of events and achievements which have moulded NRL’s destiny and shaped its character. The passion and commitment of our employees have established NRL’s credence in every sphere of its activities which enabled us to earn the good will of all our stakeholders. We may have had setbacks on occasions but each time we have been able to bounce back and reach where we are today. NRL Day gives us the opportunity to reflect on our glorious past and reinforce our resolve to carry our dreams and achievements to the next level.

Together, we have been able to achieve significant progress during the financial year 2009-10. Our Refinery has recorded the highest ever crude throughput of 2619 TMT. Distillate Yield of 85.32 % recorded in 2009-10 over previous year’s achievement of 84.72% and Specific Energy Consumption of 67.6 MBN recorded in 2009-10 against previous years figure of 70.7 MBN are manifestations of improved performance on the physical front. The refinery margins were lower world over last financial year which also impacted our financials to some extent and yet we hope to close the year with reasonable level of profitability.

Our immediate priority remains the successful and timely completion of the Diesel Quality Upgradation Project which is presently under implementation. The Refinery has already undertaken a 60 days shutdown from 16-03-2010 to facilitate revamp of refinery process units in order to integrate this project. I am confident that the hard work, sincerity and dedication of all those who have been associated with this project will pay off and reap rich dividends for our Company. We have commissioned the 12 MW Steam Turbine Generator project in the month of Feb 2010. The first batch of Euro-IV compliant Motor Spirit has been despatched from our Marketing Terminal at Numaligarh in the month of March 2010.

Charting the future course in an uncertain and ever-changing environment is fraught with challenges and requires every step to be treaded with caution. This has however not held us back and we are brimming with exciting future plans which include the Wax Project for production of paraffin and microcrystalline wax and a Naphtha Splitter Unit which would supply petrochemical grade Naphtha to the Assam Gas Cracker project. NRL holds 10 % equity in the joint venture company, M/s Brahmaputra Cracker and Polymer Limited implementing the Assam Gas Cracker project. The other joint venture, M/s DNP Limited, where NRL holds a 26% stake is implementing the Natural Gas pipeline from Duliajan to Numaligarh, which is expected to be completed within the first quarter of 2010-11. Strategic diversification into new areas of business is a continuous process and we are constantly in pursuit for such diversification primarily in the area of Energy and Oil & Gas. We are also watching the market dynamics closely and adapting our retail marketing strategy to suit our short term and long term goals.

Let us take pride and joy to be part of the NRL story and pledge to contribute towards steering our organisation towards greater success and meaningful contribution to society at large.

With best wishes,
( B.K.Das) Guwahati
Managing Director 22-04-2010

MD’s message on NRL Day 2009

Dear Colleague,

Today, on the occasion of the 17 th Foundation Day of NRL, I would like to convey my warm wishes to you and your family. While it is a day to celebrate our achievements and accomplishments, let us also take some time off to introspect about the things that we could have done better and ponder a little while about the road that we need to take to secure our future in the face of the challenges of the uncertain future.

The past year has been a roller coaster of highs and lows arising largely from volatile market conditions. Nevertheless, we remained steadfast in the face of roadblocks that came our way and managed to overcome trying circumstances to close the financial year on a positive note. Due to unprecedented rise in crude oil prices during the year, the refining margins were squeezed leading to lower profitability. However, we are optimistic about regaining lost ground this year on and this calls for all out efforts from all of us. I am sure that our quest for excellence will continue as we grow in strength and stature. For this to happen, I would urge you to constantly raise the bar in all spheres of activities.

As happened to other oil marketing companies, our retail marketing business also went through rough weather this year till October, 2008 due to spiralling crude oil prices which peaked to unprecedented levels of $ 147 per barrel in the month of July 2008 with no commensurate increase in product prices leading to substantial under-recoveries. Fortunately, the situation improved from November 2008 and we were able to register profits in retail marketing then on. However, simultaneous dip in refinery margin had impacted the refinery profitability. Overall, NRL is likely to register reasonable profits during 2008-09, riding on good performance and hard work put in by all of you.

On the safety front, our refinery achieved the distinctive feat of crossing the 12 million LTA free manhours mark in the month of March 2009, which is a true indicator of the levels of safety standards that we have been able to accomplish. Quite expectantly, awards have followed such as the Greentech Gold Safety award 2008, OISD award 2008 and the National Safety Council award 2007. On the energy and environment front too, our efforts have been rewarded and we were able to bag prestigious awards like the TERI Corporate Excellence award 2008, Oil and Gas Conservation award 2008 and the National Energy Conservation award 2008.

To remain profitable in the years ahead, we are pursuing a broad array of growth opportunities by way of implementing new projects. The financial year 2009-10 is expected to see many such ambitious projects come to fruition. The Siliguri Marketing Terminal Project is scheduled to go on stream this year, which will ease out product evacuation bottlenecks. The STG Project which is our take on contributing towards the Clean Development Mechanism initiative of UNFCCC is also expected to be operational during this year. The Diesel Quality Up-gradation project is being implemented to meet the stipulations of the Auto fuel policy. With the completion of the Natural Gas pipeline project from Duliajan to Numaligarh this year, our Refinery will commence utilization of Natural Gas in lieu of Naphtha as fuel and feed, improving refining margins significantly. This year will indeed put our abilities to test as we put our act together to meet the stringent MOU targets for 2009-10 in the backdrop of 60 days planned shutdown for implementation of the Diesel Quality Up-gradation Project.

No matter how far we go as a Company, the one thing that will never change is that our success story will always be written by tens and hundreds of smaller success stories – goals achieved by individual managers and employees with the will and drive to give their best. These stories truly define in totality the very character and substance of what we are today as an organization.

Our commitment to a culture of highest standard of performance as well as moral and ethical work-practices forms the foundation of trust on which all our business activities rest. These standards will help us meet challenges in ways that are consistent with our Company's values that have withstood the test of time. Let us work towards garnering fruitful business successes which would enable and facilitate in contributing our might towards fulfilling our corporate social responsibilities.

With fond regards,

( B.K.Das)
Managing Director
Date : 22-04-2009

MD’s message on New Year 2009

Dear Colleague,

At the very outset, let me wish you and your family a very Happy New Year.

As we usher in another New Year, I take the opportunity to express my deep appreciation to each one of you for all that you have achieved in your work area during the past year. Every sincere effort, howsoever small, on your part has contributed to strengthening the organization and steering it ahead.

The business climate posed a lot of challenges last year triggered mainly by spiraling prices of crude oil which crossed an all time high of $ 145/barrel in the month of July 08. We also had our share of concerns due to some pricing issues that impacted our profitability. Some of our tribulations have eased out considerably on account of the falling trend in crude oil prices currently and we are very optimistic about favourable business conditions this year around. With the global economic meltdown taking its toll on industries worldwide, we can only hope that the economy shift gears to recovery mode. The business environment continues to remain volatile which calls for proper and correct understanding of the prevailing situation and responding accordingly. Meanwhile, we are going ahead judiciously with our growth plans with new projects so that we acquire the capabilities which would sustain our profitability.

Our Refinery has successfully completed another major Refinery Turnaround taken from 20th October 08 after 3 ½ years of efficient trouble free operations. Certain hitches encountered during the post RTA stabilization period, which should only be expected, have also been overcome by united and dedicated team work at every level. I am sure the Refinery Turnaround has been a great learning experience for all those who have been associated with it.

It is very important that employees of each department, with the departmental head at its core, share clear goals and a vision for the future, as well as promote constructive communication with each other. We all need to take pride in being important team members, develop a collective larger vision of our Company and work towards making it happen. In order to excel, we have to make the best use of our human, financial and managerial resources.

I have confidence in the outstanding level of competence of our people. I have had many opportunities to hear our customers and stakeholders speak highly about technologies, services and commitment of our people. However, let us not rest on our past laurels and realize that in continuity lies strength. Let us move forward with renewed determination to excel in every sphere of our activity.

With these words, I once again wish that this New Year brings happiness and prosperity to all of you.

Warm regards,

( B.K.Das)
Managing Director
Date : 01-01-2009

MD's Message on 15th NRL Day  

Dear Colleague,

My greetings to you and your family on the occasion of the 15th Foundation Day of NRL. Our Company has come a long way indeed and perhaps this is an opportune time to introspect and take stock of our successes and setbacks. We need to achieve the goals we have set for ourselves with a decisive push. Let us pledge to retain our distinct culture, which we have painstakingly built over the years with teamwork and learning as its cornerstones.

I also take this opportunity to share with you some thoughts and perspectives about our Company and its projected trajectory in the foreseeable future. Our process of growth has been steady and consistent and we have been gradually expanding our business horizon. There have been turbulent times and our endeavours for sustenance have not always been smooth sailing. However, we need to look beyond temporary impediments that come our way so that we do not miss out on larger and greater opportunities.

I am happy to say that NRL has achieved record performance in terms of crude processed and sales effected during the financial year 2007-08. The crude throughput reached an all time high of 2.568 MMTPA and despatch figures touched the 2.314 MMTPA mark during the last fiscal.

New projects will continue to be a fundamental part of our future growth plans. We are utilizing our resources to plan for projects that would add value and help improve margins and profitability. Some important projects which are in various stages of implementation are the 'Diesel Quality Upgradation Project' for production of Euro-III HSD at 100% capacity utilisation, 'Siliguri Marketing Terminal Project' for smooth and economic evacuation of products from the Refinery through pipeline, '12 MW Steam Turbine Generator' for generating power utilizing surplus steam in the Refinery; 'Natural Gas Pipeline from Duliajan to Numaligarh' through a joint venture company M/s DNP Ltd. etc.Our focus is essentially on projects aimed at producing low-volume, high-value products based on inherent strength of North East crude. The 'Wax project' for production of high value paraffin and microcrystalline wax has been identified as one such venture, which is presently under feasibility study. We are also pursuing our plans to produce high value 'Needle Coke' during the current financial year 2008-09.

Our accomplishments on the safety front have been impressive and encouraging. The Refinery crossed 10 million LTA free manhours in the month of January'08, which is a glowing testimony of the excellent Safety Management Systems in place supplemented by the commitment of each one of you in this direction. Two more National Safety awards namely the 'Shrestha Suraksha Puraskar' instituted by the National Safety Council and the 'Greentech Gold Safety Award 2008' have added to our tally of Safety awards.

Our retail marketing network continues to spread its wings with the cumulative commissioning of 108 NRL Energy Stations out of which 61 are located in the North East. The average per pump throughput of 256 KLPM of our Retail Outlets in the last financial year compares favourably with the industry average. The NRL brand continues to grow in worth and following and has earned many more loyal customers. However, we cannot afford to rest on our laurels, as we need to keep in mind the fierce and ever- increasing competition in the market place to woo customers to brands and products. We should strive for continual improvement in the quality of services offered in our Energy Stations and maintain our heritage of trust and honesty of providing the best quality and value to our customers. More importantly, we need to tread every step cautiously to see that our brand value is not diluted in any way.

Our greatest asset is our human resource, which is greatly valued. We have a strong team of knowledgeable employees who are capable of generating a continuous stream of new ideas and innovations. Our lean manpower strength also gives outstanding opportunities to employees to garner expertise in their respective fields and assume greater responsibilities very early in their careers. The current business environment demands that organizations continually respond to evolution, change and transformation. I believe that an innovative workforce with intelligent use of technology can overcome the most complex business challenges. I would urge each one of you to constantly upgrade your skills and leverage new technology to derive optimum benefits. We need to bring in the highest level of professionalism in our workplace and try to excel in all jobs including routine.

I would like to sign off with my best wishes to you and your family for very exciting and rewarding years ahead.

(B K Das)
Managing Director

Date: 22-04-2008

MD's message on New Year - 2008

My dear Colleague,

business horizon.

Our immediate focus is completion of the ongoing projects in time and within cost. The Siliguri Marketing Terminal Project which is expected to be commissioned during the early part of this year in synchronization with the Numaligarh-Siliguri pipeline Project being implemented by OIL will pave the way for seamless evacuation and onward marketing of our products. This will go well with our plans of optimizing capacity utilization and improving margins. New and future projects which have been identified for value addition and sustenance in the long run are also being pursued assiduously. Two prestigious awards that came our way during the year bear testimony to our efforts in strongly linking our Corporate Vision to our business practices. While the TERI Corporate Environmental Excellence Award 2007 recognized our efforts and innovative initiatives in the field of Environment Management, the National Energy Conservation Award 2007 offered due credence to our systematic and serious attempts for efficient utilization and conservation of energy.

On the Retail Marketing front, 79 NRL Energy Stations have been commissioned so far and 192 are in various stages of development. NRL's foray into Retail Marketing has been rewarding to say the least with its swift elevation to a brand to be reckoned with in a short span of time. This is attributed to the excellent products and services supplemented with vibrant and pleasing ambience of NRL Energy Stations. We should strive hard to maintain the exclusivity of our brand and continuously upgrade our services to match the dynamic market forces and rising customer expectations.

I believe we are witnessing a new period of accelerated change in the business environment. If our Company is to continue to achieve long-term, sustainable growth, we must not only adapt to change but, as we do so, we must earn the trust of all stakeholders. The competition is getting tougher with increasing players in the marketplace and we have to find innovative ways to grow by leveraging our strengths. The challenge lies in synergizing our efforts and fixing our priorities. I believe that each individual employee's ability to change, adapt and grow ultimately leads to corporate growth.

Whatever we have achieved could not have happened without the commitment and hard work of each one of you. I take the opportunity to acknowledge the dedication and sincerity of each one of you who have had a definite role to play in keeping the NRL flag flying high. Let us all reiterate our commitment to give our very best to build a strong and vibrant organization.

With these few words, I extend my best wishes to you and your families for a prosperous and promising year ahead.

(B K Das)

Managing Director

Date: 01-01-2008


Dear Colleague,

On the momentous occasion of the 14th NRL Day today, let me convey my heartfelt greetings and good wishes to all of you along with your families. I also take this opportunity to share with you some information about the performance of NRL along with the roadmap that has been identified to sustain growth and profitability.

I am happy to say that the year 2006-07 was by far the best in terms of physical and financial performance recorded by the Company. The crude throughput of 2504 TMT attained during the year is the highest ever recorded since commissioning of the Refinery in the year 2000. Finalisation of Annual Accounts is in progress and if we consider the provisional financial figures as an indication, the Company is all set to surpass previous records with an all time high turnover and profit after tax.

The 225 TMTPA Motor Spirit plant is on stream. The commissioning of the Naphtha Hydrotreating Unit and the Catalytic Reformer Unit during the month of June and July 2006 marked the commencement of production Bharat Stage - II Motor Spirit.The production of Motor Spirit of Euro-III specifications has also commenced now after commissioning of the Isomerisation Unit.

The past year also heralds the beginning of NRL's entry into joint ventures. Equity participation in the much-delayed and long-awaited Gas Cracker project in Lepetkata in Dibrugarh District is the first step ahead in this direction, which has GAIL as the major promoter with 70 % equity while NRL, OIL and Govt. of Assam hold 10 % equity stake each. The scripting of the second joint venture with AGCL for the implementation of the Natural Gas pipeline between Duliajan and Numaligarh augurs well with our plans to diversify into other allied ventures interrelated to our core business of refining and marketing. This pipeline shall aid in the transportation of Natural Gas to be supplied by OIL, which would substitute Naphtha as feed and fuel.

Other projects and plans in hand are being pursued aggressively to meet the deadlines that we have laid for ourselves. Our HCU revamp plans to upgrade diesel quality at 100 % capacity utilization are progressing well while facilities related to the product pipeline being executed by OIL are being progressed more or less on schedule. Works are also on for construction of the tap off point at Hajo near Guwahati, which would be a marketing terminal to be fed by the product pipeline and shall cater to our Energy Stations in the vicinity of Guwahati and in other places in lower Assam and Meghalaya. As and when our plans to export Diesel to Bangladesh fructify, this terminal will help in supplying products by river route to Bangladesh.

Expansion of our Retail-marketing network in various parts of the country has gathered momentum with 73 outlets commissioned by March 2007, majority of which is set up in the North East. We are also enthusiastically pursuing our branding activities with the aim to ensure that our brand image reflects the values that our Company stands for i.e. caring, customer centric, and professional approach.

I am happy to say that NRL continues to be a frontrunner in Safety Management System with our Refinery attaining the rare milestone of recording 5 years of continuous LTA free operations by February 2007.

Awards and accolades that have come our way are an indication of the distinction that we have achieved in Refinery operations and business practices and gives credibility to the whole hearted efforts of our employees whether it be in the field of Safety, Environment Management or Energy Conservation.

This seems an opportune occasion to convey my deepest appreciation to each of you for the sincerity, devotion and perseverance in your respective fields, which has helped the Company grow from strength to strength and arrive at the echelons of success it so rightly deserves. It is my ardent belief that you shall continue with your good work and contribute effectively to make the Company achieve even greater heights. Let us continue to make honesty, integrity and ethical management our prized possessions, which should reflect in all aspects of our work culture.

While we march forward resolutely, let us not lose sight of our role as a socially responsible Corporate and strive to contribute our bit in the socio economic uplift of the people living in and around us thereby bringing a positive change in the lives of the people around us.

Let us together make NRL a great place to work.

(B K Das)

Managing Director

Date: 22-04-07

MD's Appreciation Message to All Employees.

Dear Colleague,

It is a happy occasion for of all us that NRL has attained a rare milestone in the Oil Industry of having achieved continuous Lost Time Accident free man-hours for the past five years since February 18, 2002. This is indeed a great accomplishment for our organisation in the field of Loss Control Management and speaks volumes about the concerted efforts and dedication of our employees on the Safety front as also the high standards of Safety Management Systems in place. On this momentous occasion, an appreciation letter has been received from our Chairman, Mr. Ashok Sinha who has congratulated all the employees of NRL for this Commendable feat. A copy of the letter of appreciation is attached for your perusal.

I also take this opportunity to convey my appreciation to each one of you for your commitment, sincerity and contribution, which has made this accomplishment possible.


(B K Das)

Managing Director

Date: 12-03-07



February 27, 2007

Dear Shri Das,

It gives me great pleasure to know that NRL has achieved Lost Time Accident free man-hours continuously for the past five years since February 18, 2002. This is an extremely commendable achievement and can be attributed to the commitment, dedication and excellence of all the employees of NRL. It is also reflective of the effective Safety Management System followed in the company, which has played a key role in accident prevention and mitigation.

I would like to convey my heartiest congratulations to all the employees for reaching this rare milestone in the Oil Industry. I am cofident that NRL and all the employees will continue with their outstanding performence and set higher standards in this key area of operations in the years to come.

With kind regards,

Yours sincerely,

Shri B. K. Das
Managing Director
Numaligarh Refinery Limited
Lotus Tower, G.S. Road
Guwahati-781 005

 MD's New Year message, 2007
My dear colleagues,

Another year has gone by - a year that was full of challenges as well as achievements. The experiences we had gained should spur us on to face the New Year with confidence and renewed vigour.

The physical and financial performance of the refinery have been satisfactory and we have been able to optimize operations and processes. We have implemented top of the line Information Systems and advantages of these initiatives needs to be leveraged adequately. The Motor Spirit Project has been commissioned in the month of May 2006 to produce BS- II Motor Spirit. Other strategic areas have been identified and opportunities are being aggressively pursued so that we meet projected targets and sustain ourselves in the long run.

Our HCU revamp plans to upgrade diesel quality at 100 % capacity utilization are being finalized. Work on substitution of Naphtha by Natural gas as feed and fuel is in progress, which would provide substantial value addition in terms of higher Net Refinery Margin (NRM). Implementation of our retail-marketing network in various parts of the country has gathered momentum with the average per RO throughput of the operating ROs reaching a satisfactory level. Going forward, we have to be in sync with rising customer expectations with our distinct identity and a brand to be reckoned with.

I am happy that NRL continues to excel in the safety front with the Refinery crossing 8.0 million continuous LTA free man-hours. The prestigious Oil Industry Safety Awards in the Refineries Category and the Greentech Gold Safety Award conferred on NRL during the year gives credence to our accomplishments and dedicated efforts in this direction.

I take this opportunity to congratulate each and every employee whose dedication and hard work in their respective fields have brought in many more accolades for the organization. You will be pleased to know that NRL was ranked tenth in the country by Dun & Bradstreet, one of the world's leading source of business information and insight based on total income in the Oil- Refining and Marketing Sector in India's top 500 companies. NRL was also the proud recipient of many other prestigious awards given away during the year like the POPAI OMA Silver Award for distinct Retail Visual Identity of its Energy Stations, third prize in Category -I (Insulation effectiveness of Furnace/ Boilers) of the Oil and Gas Conservation Fortnight Awards- 2006 and Greentech Silver award for environmental excellence.

I see great days ahead for NRL in terms of opportunities and growth and am confident that by harnessing the potential of our people and technology, we shall be able to achieve the targets that we have set for ourselves.

With these few words, let me wish you and your family a very happy and prosperous New Year 2007.

(B K Das)
Managing Director


Message from Managing Director on 13th NRL Day.

Dear Colleague,

As we celebrate our 13th Foundation Day today, I take this opportunity to share with you some thoughts on operational aspects and other business dimensions. After unfalteringly overcoming the initial set back on account of technical problems encountered post turnaround of the refinery at the beginning of the financial year 2005-06, we could process 2.13 MMT of crude, evacuate 1.95 MMT of products and earn a reasonable amount of profit. However, with the increase in international crude prices and our inability to pass on the full impact to customers, the refinery margin eroded considerably. The change in methodology of computation of import parity price of products, recent withdrawal of 6% discount on rail freight for N.E refineries and imposition of tax on Ravva crude transportation have squeezed margin. Nevertheless, the year ended on a positive note with optimization of operations and streamlining of business processes.

Many accolades came our way like the Jawaharlal Nehru Centenary award for Energy Efficiency for the year 2004-05, the Green Tech Gold Environment Excellence award for the year 2004-05 and the Green Tech Silver Safety award for the year 2004-05. We have also been awarded the prestigious POPAI OMA Silver Award for Retail Outlet design and facilities under the category ‘Automobile-Permanent’ for the year 2006. Further, Petroleum Conservation Research Association (PCRA) awarded us with the first prize under PCRA ‘Award for Excellence’ in the Medium Project category for “Energy Conservation” for the year 2004-05. These awards speak highly of the collective efforts and dedication of our employees and shall definitely serve as a morale booster and launch pad for many more.

The much awaited nod from the Cabinet Committee of Economic Affairs for laying of the Product Pipeline from Numaligarh to Siliguri by Oil India Limited (OIL) was received on 22nd September 2005. With this, the constraint in product evacuation, which has been a major bottle neck, shall soon be overcome. The 660 kms long product pipeline to be operated and maintained by OIL will not only provide us with an efficient transport system but also enable us to evacuate 1.72 million tonnes of white oil products viz. MS, HSD and SKO annually on a sustained basis leading to improved capacity utilization of the refinery. Meanwhile, pipeline works undertaken by OIL are progressing satisfactorily. The facilities required to be put up at our Marketing Terminal at Siliguri are also progressing at a rapid pace so that its completion synchronizes with the completion of the Product Pipeline.

The MS project under implementation for production of Euro III grade MS is on the threshold of commissioning, while revamp study of HCU for production of Euro III grade HSD at full capacity throughput is in progress through M/s CLG. We have also made headway with our plans of exporting HSD to our neighbouring country of Bangladesh. A record note of understanding between NRL and Bangladesh Petroleum Corporation has already been signed in the month of February 2006.

In order to be in the forefront in today’s dynamic business environment, we need to adopt best business practices and adapt ourselves to the latest technological advancements. The implementation of the SAP suite of applications in a record time of 5 months in August 2005 has ensured that we are in unison with the best global standards of business practices. The same could not have been possible without the untiring and whole hearted efforts of the entire NRL team.

On the retail marketing front the tally of commissioned Retail Outlets, aptly christened as ‘Energy Stations’, stands at 58 as of 31-03-06, with 36 in the North East Region. As we enter into retailing in a big way with a target of 510 Retail outlets to be commissioned in the first phase, we need to build Brand NRL as a truly customer friendly brand catering to the diverse needs of the present day customer who is willing to compromise with nothing but the best.

We should also realize that our success is inextricably entwined to our relationship with our society. Our sense of social responsibility towards society in general and especially to the community in the immediate vicinity of the refinery should remain undeterred. We should endeavour to extend our horizons beyond the humdrum of our work schedule to bring about a positive change in the lives of the people and the society to which we belong.

All our employees have withstood the test of time and sailed smoothly on the waves of change which engulfed the oil industry in the past few years. However, we cannot afford to be complacent and rest on our past glories alone. We must work with enthusiasm and commitment - the twin catalysts which can bring about change and innovation in business. Let us reiterate our commitment to give our best and continuously reinvent ourselves to face the challenges of the future. And above all, let us feel proud to be a member of the well knit NRL family.

With compliments and best wishes,

(B K Das)

Date: 22-04-06


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