Kuwait Pe­tro­leum in talks to buy stake Bina re­fin­ery

Chemical Industry Digest - - News & Views -

Kuwait

Pe­tro­leum In­ter­na­tional (KPI), the in­ter­na­tional down­stream unit of state-owned Kuwait Pe­tro­leum Cor­po­ra­tion (KPC) has been in talks to buy 24% of the Bina joint ven­ture re­fin­ery in cen­tral In­dia. It is quite ev­i­dent that the global oil pro­duc­ers are con­test­ing to gain en­try into In­dia’s ex­pand­ing refin­ing sec­tor. The world’s third-big­gest oil im­porter has plans to raise its refin­ing ca­pac­ity by 77% to about 8.8 mil­lion bar­rels per day (bpd) by 2030 to meet ris­ing fuel de­mand.

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