Oil and Natural Gas Corporation (ONGC), is reportedly conducting a pre-feasibility study for the establishment of a significant new oil refinery in Jamnagar, Gujarat. 

This proposed facility is expected to have a substantial processing capacity of 200,000 to 240,000 barrels per day (bpd), marking a potential strategic shift for ONGC into large-scale refining operations.

While no official announcement has been made by ONGC, sources close to the development indicate that the pre-feasibility study is currently underway. The project, if finalized, could involve an estimated investment ranging from Rs 1.25 lakh crore to Rs 1.5 lakh crore, though these figures are still under internal evaluation.

This move by ONGC aligns with India's broader national strategy to bolster its refining capacity. As the world's third-largest oil importer and consumer, India is actively working to position itself as a global refining hub. 

Expanding domestic refining capabilities is crucial for meeting the country's rising energy demand, enhancing energy security, and boosting its role in international crude oil trade.