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Saudi Aramco will build $44 billion 'mega refinery' in India

Another day, another massive deal for Saudi Arabia's state oil giant.Saudi Aramco has agreed to develop a "meg...

Posted: Apr 11, 2018 12:56 PM
Updated: Apr 11, 2018 12:56 PM

Another day, another massive deal for Saudi Arabia's state oil giant.

Saudi Aramco has agreed to develop a "mega refinery" on India's west coast with three Indian state-owned oil companies.

The refinery, located about 215 miles south of Mumbai, will cost $44 billion to build and is capable of processing around 1.2 million barrels of crude oil a day, Aramco said in a statement.

India's fast growing economy is boosting demand for fuel and petrochemicals and Aramco is hoping to cash in.

Related: You'll pay 14% more for gas this summer, forecast says

The project "will rank among the largest world refining and petrochemicals projects," the Saudi company said.

Saudi Aramco and the Indian consortium will each own 50% of the project, India's energy minister Dharmendra Pradhan said in a statement. Saudi Aramco said it may bring in a strategic partner to share part of its stake.

The deal comes less than 24 hours after Saudi Aramco signed an agreement with French oil company Total to build a "giant" petrochemical complex in Saudi Arabia for about $5 billion. The project is expected to create around 8,000 new jobs in the kingdom.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 513622

Reported Deaths: 10264
CountyCasesDeaths
Harrison34892556
DeSoto33234432
Hinds32638641
Jackson24854389
Rankin22507403
Lee16337242
Madison14922283
Jones14113247
Forrest13766259
Lauderdale12270324
Lowndes11305193
Lamar10659140
Pearl River9719244
Lafayette8846143
Hancock7836132
Washington7550169
Oktibbeha7210138
Monroe7010179
Pontotoc6990109
Warren6863178
Panola6759134
Neshoba6730210
Marshall6678141
Bolivar6445151
Union638297
Pike5928156
Alcorn5879107
Lincoln5530136
George510180
Prentiss503884
Tippah491482
Itawamba4844107
Scott477899
Adams4768125
Tate4756116
Leflore4729144
Copiah456495
Yazoo456491
Simpson4546117
Wayne443072
Covington433695
Sunflower4299106
Marion4277112
Coahoma4237109
Leake413990
Newton395781
Tishomingo383593
Grenada3777109
Stone365866
Jasper340666
Attala338290
Winston317892
Chickasaw315467
Clay312278
Clarke301195
Calhoun285049
Holmes271889
Smith269052
Yalobusha243947
Tallahatchie231553
Greene224749
Walthall221666
Lawrence218740
Perry213456
Amite209857
Webster205348
Noxubee188742
Montgomery181657
Carroll174541
Jefferson Davis173643
Tunica163239
Benton152939
Kemper145041
Choctaw136727
Claiborne134338
Humphreys131239
Franklin125529
Quitman107628
Wilkinson105939
Jefferson96934
Sharkey65221
Issaquena1957
Unassigned00

Alabama Coronavirus Cases

Cases: 845284

Reported Deaths: 16116
CountyCasesDeaths
Jefferson1161552006
Mobile742111380
Madison53307732
Shelby38338368
Baldwin38085589
Tuscaloosa36022641
Montgomery34492781
Lee25562263
Calhoun22586518
Morgan22459406
Etowah20018517
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Houston17731425
St. Clair16884358
Limestone16148218
Cullman16054303
Elmore15904294
Lauderdale14989306
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DeKalb12972269
Walker12030380
Blount10717192
Autauga10517157
Jackson10162194
Coffee9417192
Colbert9342208
Dale9020191
Tallapoosa7256201
Russell708165
Chilton7018170
Escambia6957143
Covington6933195
Franklin6342108
Chambers5784142
Marion5406130
Dallas5285209
Pike5119109
Clarke484986
Lawrence4826129
Winston4780110
Geneva4642136
Bibb434094
Barbour369580
Butler3435100
Marengo342493
Monroe337266
Randolph334867
Pickens333188
Fayette330385
Henry320666
Hale318389
Cherokee317863
Crenshaw260477
Washington257052
Cleburne254460
Lamar251453
Clay250869
Macon244864
Conecuh192862
Coosa185047
Lowndes178168
Wilcox177438
Bullock152645
Perry141840
Sumter139241
Greene130245
Choctaw93228
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