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With an annual crude processing capacity of 1,240,000 barrels (197,000 m 3) per stream day, RPL is the largest refinery in the world.It will have a complexity of 21.0, using the Nelson Complexity Index, ranking it one of the highest in the sector.
In 2024, Bharat Petroleum continued to strengthen its ties with Russia, despite international sanctions imposed on Moscow following its invasion of Ukraine in 2022. [19] [20] BPCL held discussions with Russian oil giant Rosneft to secure a long-term deal for up to 6 million metric tons of crude oil. Indian refiners, including BPCL, capitalized ...
Oil India was formed in 1959 to operate this new field and other nearby concessions, with Burmah Oil holding 2/3rd equity holding and Government of India holding 1/3rd equity. Later in 1961, this was changed to 50/50 shareholding. In 1982, Burmah Oil transferred all its shares to Government of India and Oil India became 100% Government owned.
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India was the second top net crude oil (including crude oil products) importer of 205.3 Mt in 2019. [ 4 ] By March 2021, India's domestic crude oil production output fell by 5.2% and natural gas production by 8.1% in the FY21 as producers extracted 30.4917 Mt of crude oil and 28.67 BCM of natural gas in the fiscal year.
The Indian Institute of Petroleum and Energy Act, 2017 (No.3 of 2018) enacted by the Parliament and declared the Institute as an 'Institution of National Importance'. IIPE has achieved this prestigious status by joining with the major oil and gas corporations such as HPCL, IOCL, ONGC, OIL & GAIL.