Oil and Natural Gas Corp will set up a $1.15 billion crude oil refinery in Rajasthan, India. The firm plans to acquire the stake of Cairn Energy in the Mangala oil field, and process the crude oil from the field in the proposed refinery. Hindustan Petroleum Corp Ltd also plans to build a 6 million ton/yr refinery in Rajasthan to respond to demand in the northwestern region of the country.
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