India and Saudi Arabia have recently agreed to expedite the implementation of the West Coast Refinery Project, also known as the Ratnagiri Refinery and Petrochemicals Ltd. (RRPCL). This ambitious project, conceived in 2014, aims to establish India’s largest greenfield refinery with a colossal capacity of 60 million tonnes per annum. Situated on India’s western coast in Ratnagiri, Maharashtra, it is set to become the world’s largest integrated refinery and petrochemical complex. RRPCL is a joint venture between three Indian national oil companies (IOCL, BPCL, and HPCL), and in 2019, Saudi Aramco and ADNOC acquired a 50 percent stake, making it a project of significant economic value.
Facts/Terms for UPSC Prelims
- Greenfield Refinery: A greenfield refinery is a new refinery project built from scratch, rather than expanding or upgrading an existing facility. It often involves substantial investment in infrastructure and construction.
- Integrated Refinery: An integrated refinery combines the processing of crude oil with petrochemical production, maximizing the use of resources and producing a wide range of petroleum and chemical products.
- Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL): These are three prominent government-owned oil and gas companies in India, collectively participating in the RRPCL joint venture.
- Saudi Aramco and Abu Dhabi National Oil Company (ADNOC): These are major international oil companies that invested in the project, acquiring a significant stake. Saudi Aramco is Saudi Arabia’s state-owned oil company, while ADNOC represents the United Arab Emirates’ national oil company.
