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Mumbai, Jun 7 : The supply from RPL’s new refinery will represent almost 50% of the estimated global oil demand growth in 2009 and should increase global production capacity of both gasoline and diesel by around 1%.
Reliance Petroleum Ltd (RPL) chairman Mukesh Ambani, while addressing the company’s third AGM at Jamnagar in Gujarat, said the RPL refinery would have the ability to process heavy and sour crude and would also produce value-added products that meet the quality specifications across the globe.
Ambani said his team was set to create a world record by constructing the new refinery at Jamnagar in less than 36 months. The company is constructing an export-oriented 29 million tonne refinery adjacent to RIL’s existing 33-mt refinery at Jamnagar.
“This project will be the world’s sixth largest refinery. With the existing RIL refinery at Jamnagar, it will have a total processing capacity of 1.24 million barrels per day,” he said.
In view of these advantages, RPL will be very well positioned to enhance shareholder value, according to Ambani. “This will hugely augment India’s export position and earn valuable foreign exchange for the country. This will also strengthen India’s position as one of the premier countries for quality fuel products,” he added.
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