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
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?