World’s biggest refinery poised to start in Jamnagar

Reliance Industries is set to start world’s biggest refinery in Jamnagar, Gujarat, according to media reports. The $6-billion project will make the oil complex in Jamnagar the world’s single biggest supplier of fuels to the global market, pumping out 1.24 million bpd of ultra-clean fuels to Europe, Africa and the United States.

Run by subsidiary Reliance Petroleum Ltd, in which Chevron Corp holds a 5 percent stake, the refinery will at a stroke more than satisfy the world’s additional oil product demand next year. The refinery would help India in meeting the demand for oil.

The import of the oil from foreign countries would be differed due the production from the refinery. The new production from the new refinery would help to reduce many expenditures of the government and would favorable for the people of India and would have impact on oil prices in India.