IOC, BPCL, HPCL Going to Set World’S Largest Refinery (Download PDF)

()

Download PDF of This Page (Size: 138.07 K)

Public Sector Oil Marketing Companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum have signed the agreement to jointly set up the world’s largest refinery and petrochemical complex. The refinery will be developed at Ratnagiri district of Maharashtra.

Location of Rajapur

Location of Rajapur

Location of Rajapur

Key Facts

  • In the new complex Indian Oil Corp (IOC) will hold 50 % stake and the Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) will hold 25%- 25 % respectively.
IOC, BPCL, HPCL going to set World’s Largest Refinery

IOC, BPCL, HPCL Going to Set World’s Largest Refinery

IOC, BPCL, HPCL going to set World’s Largest Refinery

  • The refinery will be completed by 2022at the estimated cost of Rs. 3 lakh crore and with capacity of 60 million tonnes.
  • The refinery will be set up at Babulwadi, Rajapur in Ratnagiri district of Maharashtra which is very nearer to the West coast, so they supply oil source from the Middle-East, Africa and South America will become easy.
  • The refinery complex will have three crude 20 million tonnes units.
  • Petrol, diesel, LPG, ATF and feedstock will be the main product of refinery for production petrochemical.
  • The refinery complex will be associated with the mega petrochemical plant which will have an aromatic complex, naphtha cracker and polymer complex.

Background

  • After US and China, India is third largest energy consumer in the world with world’s one-fourth energy consumption per capita.
  • The domestic oil demand will be reached up to 458 million tonnes till 2040 according to the International Energy Agency (EA) whereas capacity of the domestic refining will remains 230 - 235 million tonnes.
  • So the idea behind set up of new refinery is to meet the future fuel demand and the export potential of the country.
  • Current status of each 3 refinery and its capacity are as follow:

Table contain shows the list of Companies Total Capacity and Refineries Pant

Table contain shows the list of Companies Total Capacity and Refineries Pant

Companies

Refineries

Total Capacity

IOC

11

81.2 million tonnes

BPCL

4

33.4 million tonnes

HPCL

3

24.8 million tonnes

- Published/Last Modified on: August 1, 2017

Eco.

Monthy-updated, fully-solved, large current affairs-2018 question bank(more than 2000 problems): Quickly cover most-important current-affairs questions with pointwise explanations especially designed for IAS, CBSE-NET, Bank-PO and other competetive exams.