India.

APS Review Gas Market Trends, June, 2009

KPC has long wanted to establish a presence in India's refining sector and retail business. Until now, however, it has shied away because of New Delhi's slow pace towards oil market deregulation. In March 2006, KPC and state-owned Indian Oil Corp (IOC) signed an initial agreement for upstream/downstream partnerships in India, Kuwait and other countries. IOC is the main offtaker of India's 140,000 b/d crude oil imports from Kuwait.

KPC has been negotiating with the private Indian firm Reliance Industries Ltd (RIL) for the acquisition of a 12% equity at the latter's 660,000 b/d refinery at Jamnagar in Gujarat in the west of India. RIL holds 56% in the refinery, with private Indian individuals and financial institutions holding 44%.

KPC supplies about...

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