Russian oil and gas giant, Rosneft, according to new reports is in talks with India’s state-run refiners to establish a new refinery in India.
According to a news report, initial discussions have taken place between Indian government officials and Rosneft. Rosneft is keen on setting up a greenfield refinery, probably in the west coast of India, through a joint venture with domestic refiners.
The Rosneft refinery project aims to provide an alternative to this long-pending west coast refinery project.
However, it is yet to be confirmed which India oil & gas PSU will partner with Rosneft. Indian Oil has plans to expand its capacity and already maintains a crude purchase agreement with Rosneft while Bharat Petroleum Corp has a suitable land parcel for a refinery.