Saudi Aramco is poised to buy a 20% stake in a new refinery that India’s state-owned refiner Bharat Petroleum Corporation Limited (BPCL) plans to build with a total investment of about $11 billion, Indian news outlet Business Standard reports. BPCL plans to have the refinery built at the Ramayapatnam port in the state of Andhra Pradesh on the east coast of southern India. The refinery is planned to have a processing capacity of between 180,000 and 240,000 barrels per day (bpd). The Indian company, which is the country’s…
