ADNOC to sign deal on Monday for stake in Indian refinery
Updated : June 22, 2018 05:14 PM IST
Major oil producers are targeting Asia, where fuel demand is growing, as a stable outlet for their oil.
India, the world's third biggest oil importer and consumer, aims to expand its refining capacity by 77 percent to 8.8 million barrel per day (bpd) by 2030.
Abu Dhabi National Oil Company (ADNOC) plans to invest $45 billion over the next five years to expand its refining and petrochemicals operations.