Rel to start fuel exports from Jamnagar SEZ this month
Reliance Industries will begin fuel exports from its new refinery at Jamnagar Special Economic Zone this month.business Updated: Jan 15, 2009 21:20 IST
Reliance Industries on Thursday said it will begin fuel exports from its new refinery at Jamnagar Special Economic Zone this month.
All processing units (at the 580,000 barrels per day refinery) will be ready in next few days, company's refinery business president P Raghavendran told reporters on the sidelines of the Petrotech 2009 conference in New Delhi.
Reliance Petroleum, a unit of billionaire Mukesh Ambani-run Reliance Industries, last month commissioned the USD six billion refinery in a SEZ at Jamanagar. The only-for-exports unit together with the parent firms existing 6,60,000 bpd refinery has made Jamnagar the world's largest refining hub.
Raghavendran, however, did not say when the refinery would be fully commissioned.
All units including gasoline-making fluid catalytic cracking unit (FCCU), a hydrotreater and alkylation units would be commissioned in next few days, he said.
The new refinery will sell gasoline, gas oil and jet fuel in fuel deficit markets in the US, Europe and Africa.
"During the course of this month (first) products will be sold," he said, but refused to elaborate on the countries and markets the company was targeting.
Initially there were doubts if Reliance would start the refinery on time as global recession had cut fuel consumption and oil prices have plummeted to a four-year low.
Raghavendran said refiners, including Reliance, have been forced to cut production as the global recession cuts worldwide demand.
"You have to adjust the production of the refinery to the demand," he said.