Saudi ARAMCO and ADNOC ink pact for India’s $44 bn refinery

The mega refinery will be capable of processing 1.2 million barrels of crude oil per day

GN Bureau | June 29, 2018


#Petrol   #HPCL   #BPCL   #Ratnagiri   #Maharashtra   #India   #Suadi Arabia   #PSU   #Diesel  

State owned Saudi Aramco and Abu Dhabi national oil company (ADNOC) have signed a pact to jointly build a $44 billion integrated refinery and petrochemicals complex at Ratnagiri in Maharashtra. The project will be executed by Ratnagiri Refinery & Petrochemicals Ltd. (RRPCL), promoted by a consortium of oil marketing companies-IOCL, BPCL and HPCL.

 
Earlier, Saudi Aramco had joined the project by signing a MoU with the Indian consortium on April 11, 2018 on the sidelines of the 16th International Energy Forum Ministerial. Saudi Aramco also sought to include another strategic partner to co-invest in the project as an overseas investor.
The mega refinery will be capable of processing 60 million metric tonnes of crude oil per annum. It will produce petroleum products, including petrol and diesel meeting BS VI emission norms. The refinery will also provide feedstock for the integrated petrochemicals complex, which will have the capacity of producing around 18 million tonnes per annum of petrochemical products.
 
RRPCL will now have Saudi Aramco and ADNOC as overseas strategic partners. The project will be built as a 50:50 joint partnership between the consortium from India and Saudi Aramco and ADNOC. It will be single largest overseas investment in the Indian refining sector.
The strategic partnership brings together crude supply, resources, technologies, experience and expertise of the consortium of oil companies with an established commercial presence around the world.
 
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 estimated at around Rs 3 lakh crore ($44 billion).
 

Comments

 

Other News

BJP-RSS have never had elected presidents to date: Pawan Khera

In a scathing attack on the government, PawanKhera, national spokesperson of the Congress party, has said that the BJP is remote-controlled by RSS, an unregistered organisation that decides who the PM will be and lead the country, yet no question is asked to them. Asking how Amit Shah, JP N

Maharashtra floods: On-ground R&R hampered by VIP visits, say Pawar

Nationalist Congress Party president and senior leader Sharad Pawar has appealed to political leaders in the state not to visit the flood ravaged areas of Maharashtra as it diverts attention of those engaged in relief and rehabilitation to VIP arrangements and hampers work. The deat

Sri Lankan media baron Rajandram Rajamahendran passes away

Sri Lankan media baron, business tycoon and Chairman of The Capital Maharaja Group conglomerate, Rajandram Rajamahendran, passed away at Colombo early Sunday morning. He was 79. Rajamahendran was suffering from health problems and was receiving treatment at a private hospital in Colombo. &nb

Ganga heavily polluted with microplastics, finds study

A new study titled, ‘Quantitative analysis of Microplastics along River Ganga’ by Toxics Link has found heavy concentration of microplastics in the Ganga. All samples collected for study from the river at Haridwar, Kanpur and Varanasi were found to be polluted with microplastics.

Maharashtra flood situation grim, rescue works on

At least 79 people were killed and 56 were missing as the flood situation in Maharashtra remained grim on Saturday. Torrential rainfall in various parts of the state, coinciding with high tides and also discharge from dams, led to inundation of many regions and floods caused landslides in some places too.

Maharashtra partners with Climate Group to promote electric vehicles

Within days of announcing its new Electric Vehicle Policy 2021, Maharashtra Friday announced its partnership with Climate Group’s EV100 network to push and promote electric vehicles and reduce CO2 emissions. The policy, meanwhile, was also notified on Friday. Climate Gro

Visionary Talk with Pawan Khera, On Present State of Governance & Congress Party


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter