The refinery will be capable of processing 1.2 million barrels of crude oil per day
GN Bureau | April 23, 2018
An Indian consortium of IOCL, BPCL and HPCL and Saudi Aramco inked a memorandum of understanding (MoU) to jointly develop and build an integrated refinery and petrochemicals complex, Ratnagiri Refinery & Petrochemicals Ltd (RRPCL) in Maharashtra. Saudi Aramco may also seek to include a strategic partner to co-invest in the project.
The strategic partnership brings together crude supply, resources, technologies, experience and expertise of these multiple oil companies with an established commercial presence around the world.
The refinery will be capable of processing 1.2 million barrels of crude oil per day which means 60 million metric tonnes per annum. It will produce a range of refined petroleum products, including petrol and diesel meeting BS-VI fuel efficiency norms. It will also provide feedstock for the integrated petrochemicals complex, which will be capable of producing around 18 million tonnes per annum of petrochemical products.
A pre-feasibility study for the refinery has been completed, and the parties are now finalising the project’s overall configuration. Following the signing of the agreement, the parties will extend their collaboration to discuss the formation of a joint venture that would provide for joint ownership, control and management of the project.
RRPCL will rank among the world’s largest refining and petrochemicals projects and will be designed to meet India’s fast-growing fuels and petrochemicals demand. The project cost is around Rs 3 lakh crore or USD 44 billion.
From Dependence to Self-Reliance: Mapping India’s Rise as a Global Superpower By Bimal Jalan Rupa Publications, 184 pages, Rs 695 Bimal Jalan, a former governor of the Reserve Bank of India (RBI), has been one of our finest commentators on econom
While many countries have been chasing to reach the carbon neutral status, only a few seem to be living up to their pledges as of now. The famous ’Paris Agreement’ of 2015 was glorified and celebrated that finally 196 countries have united with an intent to mitigate and reduce the greenhouse ga
The government this week announced the Tour of Duty or `Agnipath` scheme for the recruitment of soldiers in the armed forces. Under this scheme new soldiers will be recruited only for four years. This radical and far-reaching scheme has attracted mixed reactions from various quarters. While some officials
UPI has become an integral part of our daily lives now. We use it to buy groceries, we use it to send money to friends and family, we use it to purchase tickets, book shows, pay the cab driver, and a whole host of other things due to the ease and availability of such a platform at our fingertips. The best
Scorching Love: Letters from Mohandas Karamchand Gandhi to his son, Devadas By Gopalkrishna Gandhi and Tridip Suhrud Oxford University Press, 528 page, Rs 1495 Gandhi’s era happened to be an era when letter-writing was a primary mode of communica
Crediting the citizens of Mumbai for coming forward to help the police in combating the crisis situation due to Covid-19, Mumbai police commissioner Sanjay Pandey has said that Mumbai Police lost quite a few policemen during the pandemic but cumulative efforts, with citizens working hand in hand with the p