CURRENT AFFAIRS

Detailed explanation-1: -Saudi Aramco, the world’s largest oil exporter, is in talks to buy a stake in Reliance Industries’ oil refineries and petrochemical complex, sources said.

Detailed explanation-2: -Jamnagar Refinery The Jamnagar Refinery Complex located in the Jamnagar Special Economic Zone (SEZ) is by far the largest oil refinery in on Earth and the de facto petroleum hub of the world.

Detailed explanation-3: -Located in India, the Reliance Industries-owned Jamnagar Refinery is the largest oil refinery in the world. As of 2021, the Jamnagar Refinery held a capacity of 1.24 million barrels per day, topping refineries, such as the SK Energy Co. refinery in Ulsan, South Korea and the Paraguana Refinery Complex.

Detailed explanation-4: -Reliance Industries It operates the world’s biggest refinery, Jamnagar Refinery. With a daily output of 1,240,000 barrels, the private sector crude oil refinery can process a broad range of crude oils and create several petroleum products. Jamnagar refinery exports fuels worldwide.

Detailed explanation-5: -Indian Oil group owns and operates 11 of India’s 23 refineries - ranging from the oldest one in the country at Digboi (capacity - 0.65 MMTPA) which commenced operations in 1901, to the latest at Paradip (capacity - 15 MMTPA) which was dedicated to the nation in 2016.