In the latest run-up to the sanctions list against Russia, Biden’s administration has taken one more step to cut its lifeline revenues from oil exports. As the Russian troops continue to rage offensive on Ukrainians, The West bloc and its allies have decided to ban Russian oil Imports despite their dependency.
Reliance Industries Limited comes to their rescue on time. Their Jamnagar refinery plant which was running at 3/4th its capacity due to COVID-19 has now started running in full capacity to meet the surging global oil demand in Europe and elsewhere.
According to Bloomberg, in the latest report from RIL, it was stated that the Jamnagar plant will now fasten up the crude processing to meet current and upcoming global demand phase-wise. RIL from its Jamnagar plant has reportedly sent several shipments of fuel to Europe although the expanse of the demand is still unknown.
The Jamnagar refinery plant has a capacity to produce 1.24 million (BPSD) Barrels Per Stream Day. RIL’s Jamnagar plant is the world’s largest refining hub and has won several awards including the ‘International Refiner of the Year’ award.
It has lifted India’s position of importing petroleum products to making it the exporter setting India’s energy security in place.
