Business & Economy

Indo-Russian Oil Company to Double Refinery Capacity

© Photo : Social MediaNayara Energy
Nayara Energy - Sputnik India, 1920, 14.02.2024
Nayara Energy's refinery is located in Vadinar, close to a deep-water port that can accommodate ultra-large crude carriers. The facility has a primary refining capacity of 20 million tonnes annually.
Nayara Energy, an Indian oil company in which Russia's Rosneft has a 49.13% stake, plans to double the capacity of its oil refinery in Vadinar, Gujarat, Pankaj Jain, secretary of India's ministry of petroleum and natural gas, told Russian media.
"We are talking about expansion, increasing the size of the (Nayara Energy) refinery. They want to increase refining volumes. If (in terms of volumes) it is now X, they want to increase it to two X," he said.
Talking about the company's extension plan, he said, "It's like building a new oil refinery. But if there is already a refinery, there is land, it will be faster to expand it."
In January, at a meeting with students in Kaliningrad, Russian President Vladimir Putin recalled that the largest foreign investment in the Indian economy came from Russia - the Rosneft company invested $23 billion in the acquisition of an oil refinery, a network of gas stations, and a port.
The Russian leader said at the time that they had plans to build a plant in the future.
The tanker Sun Arrows loads its cargo of liquefied natural gas from the Sakhalin-2 project in the port of Prigorodnoye, Russia, on Friday, Oct. 29, 2021. - Sputnik India, 1920, 13.02.2024
Indo-Russian Relations
India Interested in Participating in Russia's Sakhalin-2 Oil and Gas Project: Media
To participate in the discussion
log in or register
Заголовок открываемого материала