India, Saudi Aramco agree to partner on $44 billion refinery-petchem project

[RoadRunner401]

Well Ummah now a days is striking deals all over with India.

You mean people who sell oil for living are selling you oil

 

[AZ1]

Good deal for both of Saudia and India and about time.

 

[KapitaanAli]

Stupid move by visionless idiots from Indian side. When petrolium demand is going to sunk in coming time, what shall you do with such a giant refianay. Short sighted and idiot people do not think twice before commiting such a huge capital outlay. In this money, you can transform indian rural sector and put up lakhs of Methanol plants and make your villages independent from any external requirement.

But who'll give the money..

 

[RoadRunner401]

http://www.business-standard.com/ar...coast-refinery-118041100345_1.html?1523428949[/QUOTE]

They have created a sovereign fund for investing in India,they will invest where they see fit(Indian govt. wants them to invest in expressways and railways).According to UAE,it has already been operationalised.

This Saudi deal explicity mentions the project they will be investing in

Kuwait also wants to invest in the world's biggest refinery complex(If I am not wrong,the current biggest one is also in India,owned by Reliance)

http://www.business-standard.com/ar...coast-refinery-118041100345_1.html?1523428949

Nice try!

The Indian side are positive that a deal will be reached soon. On Tuesday, Secretary in the Ministry of External Affairs, Amar Sinha, was gung ho about a deal but did not refer to concerns from the Emirati side which UAE Ambassador to India Dr Ahmed Al Banna had expressed earlier.

Al Banna had said the UAE was not comfortable without proper governance structures in place. He also hinted at an 'Open Sky' policy with India.

Abu Dhabi is adopting a wait and watch approach after Etisalat's and DP World's forays turned sour in the past. The episodes during the Manmohan Singh government's tenure cast a shadow on future investments from the UAE.

 

[New World]

Stupid move by visionless idiots from Indian side. When petrolium demand is going to sunk in coming time, what shall you do with such a giant refianay. Short sighted and idiot people do not think twice before commiting such a huge capital outlay. In this money, you can transform indian rural sector and put up lakhs of Methanol plants and make your villages independent from any external requirement.

refinery will take almost 7-10 years, and in that time electric cars and solar power will be all over the world..

it seems that GCC countries are luring india and making it dependent on their fossil fuel over next 50 to 60 years..

 

[HariPrasad]

But who'll give the money..

If it is a partnership than naturally we shall have to make some payment.

refinery will take almost 7-10 years, and in that time electric cars and solar power will be all over the world..

it seems that GCC countries are luring india and making it dependent on their fossil fuel over next 50 to 60 years..

Exactly. Very correct. Now no one should put any refinary nor power plant.

 

[New World]

Exactly. Very correct. Now no one should put any refinary nor power plant.

if that will happen then india will have no reason to move on to other resources like LNG, Shale Gas etc.

and since it is a partnership that means arabs will force india and its private companies to buy oil only from them..

 

[Turingsage]

refinery will take almost 7-10 years, and in that time electric cars and solar power will be all over the world..

it seems that GCC countries are luring india and making it dependent on their fossil fuel over next 50 to 60 years..

The death of oil was predicted in the 70's 80's 90's 00's and is still predicted.
Oil refineries do not just produce petrol and diesel but thousands of other raw materials that feed into every industry out there. There is NO TECHNOLOGY, NO MANUFACTURING, NO INDUSTRIAL PROCESS that does not have a refined oil component, even the making of lithium batteries.
Oil is the most versatile raw material ever discovered out there and that will never change. It is the primary source of all Pharmaceutical products.

 

[Chhatrapati]

refinery will take almost 7-10 years, and in that time electric cars and solar power will be all over the world..

it seems that GCC countries are luring india and making it dependent on their fossil fuel over next 50 to 60 years..

Yeah right. In 7-10 years. All the vehicles will switch to EV's. People will junk their old cars and vehicles. The companies will stop manufacturing vehicles that run on gasoline within 10 years. All power plants shift power production to PV's. in 10 years.

PVC's will be gone, candles will be gone, paint will be gone. There is a list. Most of all, Airplanes would fly on magic carpets.

 

[New World]

Yeah right. In 7-10 years. All the vehicles will switch to EV's. People will junk their old cars and vehicles. The companies will stop manufacturing vehicles that run on gasoline within 10 years. All power plants shift power production to PV's. in 10 years.

PVC's will be gone, candles will be gone, paint will be gone. There is a list. Most of all, Airplanes would fly on magic carpets.

app to naraz ho gaye..

whatever you listed above i know that.. and i also know that the infrastructure is already placed that will be enough to meet the indian requirement for next 20-30 years..

but main output of crude oil is petrol and diesel and in near future their share will go down because of LNG and Shale gas. these gases are cheap and environmental friendly as compared to oil..

Power Plant are also running on CNG and LNG.

 

[Chhatrapati]

app to naraz ho gaye..

whatever you listed above i know that.. and i also know that the infrastructure is already placed that will be enough to meet the indian requirement for next 20-30 years..

but main output of crude oil is petrol and diesel and in near future their share will go down because of LNG and Shale gas. these gases are cheap and environmental friendly as compared to oil..

Power Plant are also running on CNG and LNG.

haha, the point is a refinery serves many purposes. Forgive the sarcasm in my post my reply was to your original comment which says within 7-10 years vehicles that run on petrol and diesel will render obsolete. Which I said takes time. The refinery will not be useless for the next 50 years or so given the shifting from oil is taking place at a very slow pace. There must be a massive drive for cheap EV's and people shifting to them. Shale gas is hard to extract unlike crude and they are not as high grade as naturally occurring crude oil.

And no, Shale is not environment-friendly, the extraction itself makes huge amounts of methane gas. LNG may be. But again that doesn't make investing in refinery a waste of money.

 

[Quibbler]

Stupid move by visionless idiots from Indian side. When petrolium demand is going to sunk in coming time, what shall you do with such a giant refianay. Short sighted and idiot people do not think twice before commiting such a huge capital outlay. In this money, you can transform indian rural sector and put up lakhs of Methanol plants and make your villages independent from any external requirement.

This is a very short sighted view i believe. Oil demand is going nowhere. If you are talking about electric cars. for oil demand to subside the number of petrol cars sold has to become tending to zero. And that is not near even by 2040.

Moreover you forget this is a typical commodity. If demand falls price would also fall. And oil would find viability in other industries be it power generation, chemical industry. Worst case example - There are fields in Saudi that produce oil at 20$ PB cost. At that price it beats even electric in economics. Oil is in no way going irrelevant. And all projections put India's oil consumption to soar at least 6pc cagr over the next 2 decade taking into account the prophesied doom of oil.

Not to forget that Oil industry is extremely money centric and mostly administered by bankers. The fact that an Oil behemoth is investing its money into a refinery is proof enough of their belief of its viability over the long term.

FYI - Hydrocarbon blended methenol is a viable fuel for some activities, but its not a replacement for oil and its vast applications.