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The chemical industry of India is a major industry in the Indian economy and as of 2022, contributes 7% of the country's Gross Domestic Product . [1] India is the world's sixth largest producer of chemicals and the third largest in Asia, as of 2022. [2] The value of the Indian chemical industry was estimated at $100 billion dollars in 2019. [3]
The natural gas industry in India began in the 1960s with the discovery of gas fields in Assam and Maharashtra (Mumbai High Field). As on 31 March 2018, India had estimated crude oil reserves of 594.49 million metric tonnes (Mt) and natural gas reserves of 1339.57 billion cubic metres of natural gas (BCM). [1] [2]
After discovery of oil in the Assam state of India in late 1880s, the first oil refinery was set up at Digboi. Digboi Refinery was commissioned in 1901. [1] Following is a list of oil refineries in India, per the Petroleum Planning and Analysis Cell of the Ministry of Petroleum and Natural Gas, Government of India, [2] arranged in decreasing order of their capacity.
In 2018, the global market value of the petrochemical industry was $539 billion. This number is projected to increase to $651.1 billion by 2027 with a compound annual growth rate (CAGR) of 5%.
In India, Petroleum, Chemicals and Petrochemicals Investment Regions (PCPIRs), originally known as Mega-Chemical Industrial Estates (MCIES) or chemical hubs, are special economic zones intended to facilitate production of petroleum and petrochemicals. The Government of India introduced the concept of chemical hubs in 2005. In 2007, the concept ...
The Jamnagar Refinery is a private sector crude oil refinery owned by Reliance Industries in Motikhavdi, Jamnagar, Gujarat, India.The refinery was commissioned on 14 July 1999 with an initial installed capacity of 668,000 barrels per day (106,200 m 3 /d).
In May 2018, IOCL became India's most profitable government corporation for the second consecutive year, with a record profit of ₹21,346 crores in 2017–18. [16] In February 2020, the company signed a deal with the Russian oil company Rosneft to buy 140,000 barrels per day of crude in year 2020. [17]
The petrochemical industry is concerned with the production and trade of petrochemicals. ... 2023 market cap $ (billion) [3] BASF: Germany: 62.30: 51.1 Dow Chemical: US: