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The $44bn Ratnagiri refining and integrated petrochemicals project in India, in which Saudi state firm Aramco and Abu Dhabi’s Adnoc have a preliminary agreement to take 25% equity each, has been delayed by two years because of local political opposition to land purchasing for the complex.
The $1.2mn b/d refinery at Ratnagiri, 340km south of Mumbai on India’s west coast in Maharashtra province, was originally intended for completion in 2022 and commissioning in 2023. This would be followed later by integration with 18mn t/y of petchems capacity.
Aramco and Adnoc signed a framework agreement in June with Ratnagiri Refinery & Petrochemicals Ltd (RRPCL), a consortium of India’s Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), to enter the project ( MEES, 29 June ). (CONTINUED - 599 WORDS)
DATA INSIDE THIS ARTICLE
|table||Aramco Overseas Refining ('000 B/D)|