India’s state-run Oil and Natural Gas Corporation (ONGC) is exploring the development of a new refinery in Jamnagar, Gujarat, with a prospective capacity of 200,000 to 240,000 barrels per day, according to a company source speaking on the condition of anonymity. A pre-feasibility study is currently underway, although formal approval or detailed plans have yet to be released.
The proposal aligns with India’s strategic objective to establish itself as a global refining hub, driven by its position as the world’s third-largest oil importer and consumer. The expansion of domestic processing capacity is a central plank in this vision.
Jamnagar is already home to the world’s largest single-site refinery complex operated by Reliance Industries, making it a logical choice for ONGC’s new project. Located near the existing network of coastal export infrastructure, a new ONGC refinery could further solidify the region’s prominence in global fuel supply.
While details such as investment costs and commissioning timelines remain under wraps, one trade source from Projects Today indicates a potential budget in the range of ₹1.25–₹1.5 lakh crore (~ US $150–180 billion), although ONGC has not confirmed these figures.
As the pre-feasibility phase progresses, market observers will be watching closely for clarity on feedstock sourcing, ownership structure, and how the project will integrate with India’s existing refining and export ecosystem.
