From UPSC perspective, the following things are important:
Prelims level: Ratnagiri Refinery
Mains level: Petroleum sector in India and future prospects
- An Indian Consortium consisting of IOCL, BPCL and HPCL and Saudi Aramco signed a Memorandum of Understanding (MoU) to jointly develop and build an integrated refinery and petrochemicals complex, Ratnagiri Refinery & Petrochemicals Ltd. (RRPCL) in the State of Maharashtra.
- The strategic partnership brings together crude supply, resources, technologies, experience and expertise of these multiple oil companies with an established commercial presence around the world.
- The refinery will be capable of processing 1.2 million barrels of crude oil per day (60 million metric tonnes per annum, or MMTPA).
- It will produce a range of refined petroleum products, including petrol and diesel meeting BS-VI fuel efficiency norms.
- RRPCL will rank among the world’s largest refining & petrochemicals projects and will be designed to meet India’s fast-growing fuels and petrochemicals demand