INDIA SELLS EXCESS OIL REFIINING CAPACITY TO OIL-PARCHED WEST
October 1st, 2006
BY RAGHAVENDRA VERMA, in New Delhi
"REFINERY Process Outsourcing" or simply RPO is an exciting buzzword in the otherwise hard-pressed Indian petroleum industry, as the term represents newly found and highly profitable venture of operating refineries to fulfil surging international demand.
Low operating costs and tax benefits are propping up new export-oriented mega-refineries in a country, which until a few years ago could not produce enough refined oil products to fulfil its own demand.
However last year, 17% of India's output, or 21.5 million ...
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