Ratnagiri Refinery & Petrochemicals Ltd (RRPCL), the entity that plans to build the world’s plant in Maharashtra, will source 30 million tonnes (mt) or half of the crude it requires, from partners Saudi Arabian Oil Co (Saudi Aramco) and Abu Dhabi National Oil Company (ADNOC), a top official said.
Saudi Aramco, the world’s largest oil producer, and ADNOC, both state-owned, will together hold a 50 per cent stake in the ₹3-lakh crore project.
Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation, which together hold the balance 50 per cent stake in the 60-mt-a-year project, will also have the right of first refusal on Saudi Aramco and ADNOC’s share of products coming out of the refinery if the two decide against retailing it in India on their own and sell to customers in India or overseas, the official at one of the state-run refiners, briefed on the plan, said asking not to be named because the information is private. Read more
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