Processing .....please wait.. 
The article has been forwarded.... 
India adds oil refining capacity
By agencies
|
Friday, 24 March 2006, 20:30 IST
NEW DELHI: Despite being a net oil importer, India is all set to add more oil refining capacity to meet domestic oil demands.
Almost all oil majors in the country are planning to either expand or set up greenfield capacities in the country. While Reliance Industries is setting up the largest capacity at Jamnagar where it already operates the worlds single largest refinery, others adding refinery capacity include Essar, BPCL, MRPL and IOC among others.
The first to be commissioned will be Essar Oils 7million ton refinery at Vadinar by July this year. BPCL is expected to commission its 6million ton Bina refinery by the end of 09.
Globally, this period is being referred to as the golden era for the refining industry as margins for refineries have been at an all-time high. Upcoming Indian refineries are expected to reap huge benefits due to the demand -supply gap leading to high refining margins.
BPCLs proposed Bina refinery, involving an estimated cost of almost $2-5 billion is expected to be completed by December 09.