October 15, 2026: Oil and Natural Gas Corporation Ltd (ONGC) is evaluating various models for its proposed greenfield refinery and petrochemical complex, including setting it up independently, through a subsidiary, or in partnership with foreign players, people familiar with the matter said.
 
“The project is in the initial stage and we are deciding the working model. Other specifications, such as location and configuration of the refinery will be worked out later,” a senior company executive said.
 
The proposed refinery is also likely to have a higher petrochemical intensity, in line with rising domestic demand, the official said.
 
The detailed feasibility report (DFR) will assess the refinery’s petrochemical configuration and potential, the official added.

The details regarding capacity and investment requirement for the project will be firmed up once the DFR is ready. Indian oil companies are pursuing a mix of greenfield refinery projects and expansions of existing plants to raise the country’s overall refining capacity. Earlier this month, oil minister Hardeep Singh Puri said India’s refining capacity of 267 million tonnes per annum (mtpa) helped ensure fuel availability despite supply disruptions during the peak of the West Asia conflict.

(Source: Business Standard)