INDIA'S Oil & Natural Gas Corp (ONGC) is considering setting up a 3-5 million tonne crude refinery to process crude from discoveries in Rajasthan, India. The project is expected to cost around US$1.1 billion.
It is understood the refinery will have an initial capacity of 3 million tonnes and sources reported in the Indian media said all details would be finalised once a feasibility study is conducted. The facility could later be enhanced to process 5 million tonnes of crude.
ONGC has a 30% stake in the Mangala oilfield, and is reported to trying to acquire Cairn Energy’s stake.
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