India’s Reliance Industries Ltd plans to invest about $13 billion in energy projects, including a 400,000 barrels per day (bpd) crude refinery at its Jamnagar complex, documents seen by Reuters show.The refinery would process cheap, heavy crudes that are increasingly available to Asia as the shale boom has cut U.S. demand for the grades.
Reliance, controlled by billionaire Mukesh Ambani, operates the world’s biggest refining complex in India’s western state of Gujarat, where its two adjacent plants can process about 1.4 million bpd of oil.
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