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INDIA'S ONGC TO SET UP RAJASTHAN REFINERY.
JAIPUR, Nov 1 Asia Pulse - India's largest oil producer ONGC (NSI:ONGC) on Monday announced it would set up a 7.5 million tonne-capacity refinery at Barmer oil fields in Rajasthan at an investment of Rs 90 billion.
Crude from the Barmer oil fields, which the company drilled in collaboration with UK's Cairn Energy, has been allotted to ONGC-MRPL (Mangalore Refinery and Petrochemicals Ltd) for refining petroleum oil with 50 per cent equity to Cairn, ONGC chairman and managing director Subir Raha said here.
The refinery would be ready by the end of 2006, and petroleum products made available 36-40 months after the project takes final shape, he added.
Cairn-ONGC has ...
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