DULIAJAN, Sept 10: Duliajan is set to miss one of Oil India Limited’s most significant annual corporate events for the seventh consecutive year, with the company’s 67th Annual General Meeting scheduled to be held virtually from its corporate office in Noida, Uttar Pradesh, on September 17.
Oil India, whose registered headquarters is in Duliajan, has conducted its AGM online since 2020. The decision has renewed concerns in sections of Assam over what stakeholders describe as the company’s growing distance from its historic home.
Duliajan has been closely associated with Oil India’s history since the early years of India’s petroleum industry. The discovery of the country’s first oil well at Naharkatiya in 1953 laid the foundation for the development of the petroleum industry in Upper Assam. Oil India subsequently established its headquarters at Duliajan in 1959.
The company grew from the Assam oil fields into one of India’s major public-sector oil and gas producers, with operations across the country and overseas. Assam, however, continues to remain important to its production and investment activities.
For residents and stakeholders in Duliajan, the AGM had traditionally been more than a formal shareholder meeting, providing an opportunity for employees, shareholders and local stakeholders to interact with the company’s senior leadership. The physical meetings were shifted online during the Covid-19 pandemic, but the Duliajan tradition has not resumed.
The latest decision has drawn criticism from sections of Assam, particularly over the company’s leadership under Chairman and Managing Director Ranjit Rath, who has held the position since 2022. Critics have argued that Oil India’s expanding corporate operations should not weaken its institutional connection with Duliajan and Assam.
The issue has particular significance in Duliajan, where thousands of employees and workers are associated with the company. Local stakeholders have cited a workforce of more than 6,500 employees and workers, with a substantial number from Upper Assam.
The company has expanded its business footprint in recent years. In 2021, it acquired a 69.63 per cent stake in Numaligarh Refinery Limited, strengthening its presence in the downstream petroleum sector. In 2023, Oil India became India’s 13th Maharatna central public-sector enterprise.
Oil India reported revenue of about ₹24,039 crore and profit after tax of approximately ₹4,455 crore in 2025–26. During the year, it produced around 3.45 million metric tonnes of crude oil and 3.19 billion cubic metres of natural gas. Its producing assets in Assam accounted for about 6 million metric tonnes of oil equivalent, according to figures cited in connection with the company’s performance.
The company’s continued expansion has therefore contrasted with the absence of its AGM from Duliajan. The town’s economy and social landscape have been closely shaped by Oil India’s presence since the establishment of its headquarters there.
The last physical AGM in Duliajan was held on August 17, 2019, at Bihutoli under then Chairman and Managing Director Utpal Bora.
Seven years later, Bihutoli is expected to remain without the AGM on September 17, while shareholders and company officials participate virtually from Noida.
For sections of Assam, the shift has become symbolic of a wider concern: whether Oil India’s expansion beyond the region is being accompanied by a diminishing corporate presence in the place where its modern Indian journey began.
