New Delhi: Billionaire Mukesh Ambani’s Reliance Industries Limited plans to produce only jet fuel and petrochemicals at its mega Jamnagar refinery complex as it implements an oil-to-chemical strategy that will eliminate most fuels it produces in favour of high-value products.
The company is preparing its Jamnagar complex, the world’s largest refinery at a single location, to be future ready as fuel demand undergoes change with advent of electric vehicles.
“Jamnagar will be the refinery icon of the world with best-in-class performance,” the company said in its latest annual report outlining its vision.
The firm’s mission is to “ensure the Jamnagar refinery is future-ready with a strategic transformation to optimal oil-to-chemicals”.
Its refineries currently convert crude oil, sourced from around the globe, into petrol, diesel, LPG, aviation turbine fuel (ATF), LPG, naphta and other value-added fuels.
Some of these products are used to produce petrochemicals used for making plastics and other products.
Now, it is implementing a strategy that will convert the crude oil only into petrochemicals and ATF used in aeroplanes.
“Reliance has developed a future-ready oil-to-chemical strategic vision to, progressively, transform the Jamnagar refinery from a leading producer of fuels to chemicals,” it said.
“The fundamentals of the Jamnagar oil-to-chemical strategy are to employ advanced molecule management to upgrade the refinery intermediate streams by value.”