Indian Oil Corp said it is likely to take up an offer from the government of Yemen for setting up a gas-based petrochemical plant in that country provided it is allocated a gas field.
To set up a petrochemicals plant in that country
NEW DELHI: Indian Oil Corp said it is likely to take up an offer from the government of Yemen for setting up a gas-based petrochemical plant in that country provided it is allocated a gas field.
“Yemen wants to set up a gas-based petrochemical plant and we certainly are interested in participating in it,” IndianOil director (business development) B M Bansal told reporters here on Friday.
Bansal said IndianOil wanted to set up petrochemical business abroad and it saw Yemen as an opportunity to expand in the overseas markets. “We are looking at big investments but we need a gas source for it. We can also build refineries and set up LNG plant if they want,” he said.
Yemen’s minister of oil and minerals Khalid Mahfoudh Dahah had earlier met Union petroleum minister Murli Deora. The Yemenese oil minister said his country was open to Indian investment in oil and gas exploration, refineries and pipelines and petrochemical plants.
Dahah had invited Deora to visit the Gulf country to further investment proposals of the Indian companies. “We are proposing a technical cooperation committee between the two governments and Deora has verbally accepted my invitation to visit Yemen within a month’s time,” he said.
Yemen was open to exporting liquefied natural gas to India but only after it capacity increased. The current 17 trillion cubic feet gas reserve was committed to domestic and long-term consumers overseas, he said.
Yemen has already awarded 50% equity in a refinery project to Reliance Industries Ltd along with two blocks. It had awarded two blocks to Gujarat State Petroleum Corporation in December.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}