Daily News Updates
By Team Newscript
August 8, 2025
India Energy News
Oil India–IREL MoU: a strategic bet on rare earths
Oil India Ltd (OIL) has signed an MoU with IREL (India) Ltd to co-develop critical minerals and rare earths, a move that dovetails with New Delhi’s push to de-risk clean-tech supply chains. The tie-up signals an intent to move beyond upstream hydrocarbons into strategic ores used in magnets, EVs and wind turbines. While commercial terms weren’t disclosed, the ministries that oversee the firms (Petroleum & Natural Gas; Atomic Energy) position this as part of the national critical minerals mission. Expect joint work on exploration, beneficiation and processing—areas where India seeks to compress learning curves historically dominated by China.
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