The refinery, which is being built by unit Reliance Petroleum , will have a lead over other upcoming export refineries in Asia and the Together with Reliance Industries' existing 660,000 bpd refinery, the new unit will make the Chevron Corp holds 5 percent in Reliance Petroleum. A source had told Reuters in April Reliance will begin testing its new refinery in July and commission it in September. "At time of the refinery project announcement, a number of large-scale "RPL will be the first off the mark with a multi-year lead over other The supply from the new refinery will represent almost half of the estimated global oil demand growth in 2009, and should increase global production capacity of both petrol and diesel by around 1 percent, he said. Demand for energy was expected to remain buoyant, and the long-term outlook for refining margins "continues to be positive, specially for complex refiners," Ambani said. "This is because of robust demand, tight product supplies and slow growth of new capacities dogging an already stretched refining system." |
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