Indian state-controlled refiners have formally committed to building a huge refinery and petrochemical complex on the country’s west coast, despite continuing doubts over how the project fits into the government’s long-term energy strategy.
The 1.2mn b/d, $40bn refinery in Maharashtra is expected to be ready in 2022, according to India’s biggest refiner IOC, which has a 50pc stake in the project. The refinery will produce fuel meeting Euro 6 emissions standards and will be able to process a wide range of light and heavy crude grades. State-controlled refiners Bharat Petroleum and Hindustan Petroleum will each own 25pc stakes. Read More…
Credit By: Hellenic Shipping News
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