Top Indian Oil Firm Looks to Build $8.3-Billion Refinery as Fuel Demand Soars

State-held Oil and Natural Gas Corporation (ONGC), the biggest oil and gas explorer in India, is assessing plans for an $8.3-billion refinery plus petrochemicals project in the most populous Indian state to take advantage of growing fuel demand, sources with knowledge of the matter have told Bloomberg. ONGC is considering situating the refinery project expected to cost $8.3 billion (700 billion Indian rupees) in the state of Uttar Pradesh in northern India. With 241 million inhabitants, Uttar Pradesh is the most populated state in the country.…