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

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

K Raheja Corp launches luxury tower at Raheja Galaxy, South Pune

K Raheja Corp Homes has unveiled a new luxury tower at Raheja Galaxy in South Pune, catering to the growing demand for premium living spaces in the area. Located off NIBM, the project offers seamless connectivity, excellent infrastructure, and a reputation for timely delivery and superior construction quality.The new tower features spacious 2-bed, 3-bed, and 3BHK L residences, priced from Rs 1.29 crore. The homes are designed with modern amenities and a neo-classical architectural style, offering a balance of functionality and luxury. Prices will increase after April 30th, making the early-bir..

Next Story
Infrastructure Urban

PM to Visit Bihar on April 24 for Panchayati Raj Day Celebrations

Prime Minister Shri Narendra Modi is scheduled to visit Bihar on 24th April 2025. During his visit to Madhubani, he will participate in the National Panchayati Raj Day celebrations at around 11:45 AM. On this occasion, he will inaugurate, dedicate, and lay the foundation stone for several development projects worth over Rs 134 bn, and will address the public gathering. As part of the programme, the Prime Minister will present the National Panchayat Awards, honouring the best-performing Panchayats from across the country. In the railways sector, Prime Minister Modi will flag off the Amrit Bha..

Next Story
Infrastructure Urban

Rs 140 Bn Infra Projects in North India Reviewed by DPIIT Secretary

Shri Amardeep Bhatia, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), chaired a high-level Project Monitoring Group (PMG) review meeting to assess progress on major infrastructure projects in Uttar Pradesh, Haryana, Punjab, and Uttarakhand. The meeting was attended by senior officials from central ministries, state governments, and private sector project proponents. A total of 17 key infrastructure projects, collectively worth over Rs 140 billion, were reviewed during the session, which addressed 19 critical issues affecting project execution. The discussions..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?