China's oil major Chinapetro could join Chevron to buy a stake in India's US$6 billion Reliance refinery. Reliance and CNPC could explore joint possibilities in many of these areas, eventually leading to equity participation. Both CNPC and Reliance Industries are studying the feasibility of a joint venture for exploration and production abroad, and are planning to build a new 580,000 bpd refinery and a 900,000 tpa polypropylene plant next to Reliance's present 660,000 bpd refinery at Jamnagar.
Reliance Petroleum is planning to enter into contracts with global exploration and production giants for supplying ultra-clean fuels to the major markets of the world -- gasoline for the United States and gas oil for Europe. The contracts may eventually extend to an equity tie-up with one of these giants.
04-Apr-06 
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