Saudi Aramco Eyes India’s Refining Sector for Strategic Partnerships
OIL & GAS

Saudi Aramco Eyes India’s Refining Sector for Strategic Partnerships

Saudi Aramco has renewed its interest in India’s expanding refining sector, viewing it as a strategic growth opportunity. With Bharat Petroleum Corporation Ltd (BPCL) and Oil and Natural Gas Corporation (ONGC) planning new refineries, fresh investment avenues are opening up for the Middle East’s largest oil exporter.

Although the company has not confirmed specific investment plans, it reiterated that India remains a priority market. Saudi Arabia was the third-largest supplier of crude oil to India in 2024, exporting 625,000 barrels per day.

According to S&P Global Commodity Insights, India plans to raise its refining capacity from 258.1 million tonnes to 309.5 MnT by 2028. The country may require an additional 400,000 barrels per day of capacity by the early 2030s.

Past setbacks, including the delayed 60 MnT Ratnagiri refinery project and the cancelled US$15 bn Reliance-Aramco stake deal, have not slowed down India’s efforts.

Major expansion projects are ongoing at IOC, BPCL, and HPCL, with a focus on integrating petrochemical units. HPCL Rajasthan Refinery, for instance, is building a nine MnT facility with a petrochemical intensity of 26 per cent, one of the highest in the country.

Source: Economic Times

Image Source: www.reuters.com

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Saudi Aramco has renewed its interest in India’s expanding refining sector, viewing it as a strategic growth opportunity. With Bharat Petroleum Corporation Ltd (BPCL) and Oil and Natural Gas Corporation (ONGC) planning new refineries, fresh investment avenues are opening up for the Middle East’s largest oil exporter. Although the company has not confirmed specific investment plans, it reiterated that India remains a priority market. Saudi Arabia was the third-largest supplier of crude oil to India in 2024, exporting 625,000 barrels per day. According to S&P Global Commodity Insights, India plans to raise its refining capacity from 258.1 million tonnes to 309.5 MnT by 2028. The country may require an additional 400,000 barrels per day of capacity by the early 2030s. Past setbacks, including the delayed 60 MnT Ratnagiri refinery project and the cancelled US$15 bn Reliance-Aramco stake deal, have not slowed down India’s efforts. Major expansion projects are ongoing at IOC, BPCL, and HPCL, with a focus on integrating petrochemical units. HPCL Rajasthan Refinery, for instance, is building a nine MnT facility with a petrochemical intensity of 26 per cent, one of the highest in the country. Source: Economic TimesImage Source: www.reuters.com

Next Story
Real Estate

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Next Story
Infrastructure Transport

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Next Story
Infrastructure Transport

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?