Project News Detail
| Project No : | 205023 |
|---|---|
| Project Title : | India’s oil refining, petrochemicals remain key investment priority for Aramco in Maharashtra |
| Company Name : | Private Company |
| Project Detail : | BPCL and ONGC’s move to build new refineries will open another window of opportunity for Aramco.
Saudi Aramco still considers India’s expanding crude oil refining and petrochemicals sector a key investment priority despite the energy behemoth’s failed attempts to acquire a stake in Reliance Industries (RIL) and the scrapped mega refinery complex in Ratnagiri (Maharashtra). According to S&P Global Commodity Insights, India’s plan to set up new refineries has revived Saudi Aramco’s interest in investing in at least one of them and expanding its footprint in a growing oil and petrochemicals market. Although Aramco’s earlier plans to buy stakes in the planned Ratnagiri Refinery as well in Reliance fell apart in quick succession, the strategic move by two state-run firms, Bharat Petroleum Corp. and Oil and Natural Gas Corp., to build new refineries, will open another window of opportunity for Middle East’s biggest oil producer,” it added. |
| Project Location : | Ratnagiri - Maharashtra - India |
| Project Estimation : | Refer Document |
| Status : | Announced |