The Reliance Industries Jamnagar refinery complex processes 1.24 million barrels per day across two sites in Gujarat, India — making it the world’s largest single-location refining complex by capacity, ahead of any facility operated by Saudi Aramco, ExxonMobil, or Sinopec. Owned by Reliance Industries Limited (RIL) and controlled by chairman Mukesh Ambani, the complex underpins an Oil to Chemicals (O2C) division generating approximately $75 billion in revenue in FY2024.
The Jamnagar Refining Complex
The Reliance Industries Jamnagar refinery operates as two distinct units on the same Gujarat site. Refinery 1 — commissioned in 1999 — has a nameplate capacity of 660,000 barrels per day and supplies the Indian domestic market. Refinery 2, commissioned in 2008 within a Special Economic Zone (SEZ), adds 580,000 bpd and is entirely export-oriented, with product exempt from Indian domestic taxes under SEZ rules.
The SEZ structure gives Refinery 2 a distinct commercial profile: output moves directly to international markets, with Europe and the United States among the primary destinations. Together, the two units process a wide crude slate — Russian Urals grade has accounted for significant volumes since the 2022 price cap created sustained discounts, alongside crude sourced from the Middle East, West Africa, and the United States.
Export logistics run through the Sikka Port and Vadinar terminal on the Arabian Sea coast, with a dedicated crude jetty capable of handling VLCCs. On-site crude storage is estimated at 14–16 million barrels, scaled to buffer the complex against supply variability across its diverse sourcing routes.
Petrochemicals and Downstream Integration
The Jamnagar complex integrates directly with one of the world’s largest petrochemical plants, maximising feedstock conversion from refinery streams. Key outputs include paraxylene (PX), polypropylene, and polyester intermediates processed on-site. The O2C division extends across three further manufacturing hubs: the Patalganga Petrochemical Complex in Maharashtra, the Hazira Manufacturing Division in Gujarat, and the Dahej SEZ.
Hazira runs an ethylene cracker and polyethylene units. Patalganga produces purified terephthalic acid (PTA), monoethylene glycol (MEG), and polyester. At Dahej, Reliance holds a stake in Petronet LNG, operator of India’s largest LNG import terminal at 17.5 MMTPA capacity — giving the group exposure to gas infrastructure alongside its liquid fuels and chemicals operations.
Reliance’s downstream retail presence operates through Reliance BP Mobility Limited, a joint venture with BP covering more than 1,400 fuel retail sites across India. The JV is expanding its network as Indian road fuel demand grows. For further context on the sector, see our ranking of the top downstream oil and gas companies globally and the top petrochemical companies by revenue and output.
Reliance Industries Jamnagar Refinery — 2026 Operations
Russian Urals crude remains a central margin driver at Jamnagar. Since the G7 price cap took effect in December 2022, Reliance has been among the largest single buyers of Urals globally — processing discounted barrels and re-exporting refined product to markets that cannot accept Russian-origin crude directly. This arbitrage has materially supported O2C margins through 2023, 2024, and into 2026.
Construction is ongoing at the Dhirubhai Ambani Green Energy Giga Complex, co-located at Jamnagar. The $10 billion project covers four integrated gigafactories: solar photovoltaic modules, hydrogen electrolysers, fuel cells, and grid-scale energy storage. Reliance has stated a target of one million tonnes per year of green hydrogen production by 2030 — placing Jamnagar at the centre of both India’s current refining capacity and its longer-term energy transition infrastructure.
Reliance in the Global Refining Market
At 1.24 million bpd, the Reliance Industries Jamnagar refinery complex has no peer at a single geographic location. The nearest comparators — Paraguana in Venezuela, Ulsan in South Korea, and the Ras Tanura complex in Saudi Arabia — each operate below that combined figure. Reliance is the largest private-sector refiner in Asia and one of the top five globally by throughput capacity.
Total group revenue reached approximately $104 billion in FY2024, with the O2C segment contributing around $75 billion. Market capitalisation stands at $220–240 billion, placing Reliance among Asia’s largest listed companies. The group employs approximately 236,000 people across its refining, petrochemicals, retail, and telecommunications divisions. See how Jamnagar’s capacity compares against peers in our list of the world’s largest refineries by capacity.
Company Snapshot
| Detail | Data |
|---|---|
| Founded | 1966 (Dhirubhai Ambani) |
| Headquarters | Mumbai, India |
| Ownership | Ambani family majority; publicly listed BSE (500325) and NSE (RELIANCE) |
| Jamnagar Capacity | 1.24 million bpd combined (Refinery 1: 660,000 bpd; Refinery 2 SEZ: 580,000 bpd) |
| O2C Segment Revenue | Approx $75bn (FY2024) |
| Total Group Revenue | Approx $104bn (FY2024) |
| Employees | Approx 236,000 (all divisions) |
| Key Divisions | O2C (refining and petrochemicals), Retail, Jio Telecom, New Energy |
| Key Export Terminal | Sikka Port / Vadinar, Arabian Sea coast, Gujarat |
Full financial data is available via the Reliance Industries Annual Report 2023-24.
Is the Jamnagar refinery the world’s largest?
Yes. The Reliance Industries Jamnagar refinery complex combines 1.24 million barrels per day across two sites — Refinery 1 at 660,000 bpd and the SEZ Refinery 2 at 580,000 bpd. No single-location refining complex operated by Saudi Aramco, ExxonMobil, Sinopec, or any other major exceeds this combined figure.
Who owns the Jamnagar refinery?
Reliance Industries Limited owns and operates the Jamnagar complex. The company is publicly listed on the BSE and NSE but is majority-controlled by the Ambani family, with Mukesh Ambani serving as Chairman and Managing Director. It is not a state-owned enterprise.
What crude oil does Reliance Jamnagar process?
The complex processes a wide crude slate including Russian Urals grade — which has accounted for significant volumes since the 2022 G7 price cap created sustained discounts — alongside crude from the Middle East, West Africa, and the United States. The refinery is configured to handle a broad range of crude qualities.
What products does Reliance export from Jamnagar?
Refinery 2, operating within a Special Economic Zone, is entirely export-oriented. Products include gasoline, diesel, jet fuel, naphtha, LPG, petroleum coke, and paraxylene. Europe and the United States are among the primary destination markets for refined product exports.
What is Reliance building at Jamnagar in 2026?
The Dhirubhai Ambani Green Energy Giga Complex is under construction at Jamnagar. The $10 billion project includes four integrated gigafactories covering solar photovoltaic modules, hydrogen electrolysers, fuel cells, and energy storage systems. Reliance has set a target of one million tonnes per year of green hydrogen production by 2030.