Wednesday, October 14, 2009

Reliance Refinery Capacity to Increase

Reliance Industries Ltd (RIL) is planning to increase the capacity of Jamnagar refining facility, Jamnagar Refinery will have its production raised by onether quarter and it will total to 720,000 barrels a day (bpd). Post its commissioning in december, Jamnagar Reliance Refinery Unit 1 boasts capacity of 650,000 bpd.

It is interesting that RIL Refinery is operating at capacity 12% higher then the official output capacity, once the new setup will get commissioned (in about a year) the total output of the refinery will be amongst world largest refinery in terms of output capacity. Total refining capacity of this complex will become 1,380,000 bpd.

Although these are vibes for shareholders, petro analysts are very cautious, the refinery produce market is alrady over supplied and this expansion seems only a trick to not to pay heavy taxes to Indian Governement. When questioned RIL declined to comment on this issue.

Jamnagar Refinery Complex is already the world's largest refining hub.

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