India's Refining Capacity Set to Soar
OIL & GAS

India's Refining Capacity Set to Soar

India's refining capacity is poised for significant growth, reaching 276.1 million metric tonnes (MMT) by 2024, up from 266.5 MMT in 2023. This increase underscores India's strategic focus on strengthening its energy infrastructure to meet rising domestic and global demand.

The boost in refining capacity is driven by substantial investments and the expansion of existing facilities. Key projects include the expansion of the Panipat refinery by Indian Oil Corporation and the development of a new refinery in Ratnagiri by a consortium of state-run oil companies and Saudi Aramco. These initiatives aim to enhance India's ability to process crude oil efficiently, reducing dependency on imported refined products and bolstering energy security.

In addition to increasing capacity, India is also focusing on upgrading its refineries to produce cleaner fuels, aligning with global environmental standards. The transition to Bharat Stage VI (BS-VI) norms, equivalent to Euro VI, represents a major step towards reducing vehicular emissions and improving air quality. This shift is part of India's broader commitment to sustainable development and reducing its carbon footprint.

The expansion of refining capacity is expected to have far-reaching economic implications. It will create job opportunities, stimulate local economies, and attract foreign investments. Furthermore, it will enhance India's position as a key player in the global energy market, providing refined products to neighbouring countries and beyond.

However, this growth is not without challenges. The industry must navigate fluctuating crude oil prices, regulatory hurdles, and the need for continuous technological advancements. Addressing these issues will be crucial for maintaining momentum and ensuring that the benefits of increased refining capacity are fully realised.

In summary, India's refining capacity is set to grow substantially by 2024, reflecting the country's strategic efforts to enhance energy security, economic growth, and environmental sustainability. This development is pivotal for meeting the increasing energy demands of a rapidly growing economy.

India's refining capacity is poised for significant growth, reaching 276.1 million metric tonnes (MMT) by 2024, up from 266.5 MMT in 2023. This increase underscores India's strategic focus on strengthening its energy infrastructure to meet rising domestic and global demand. The boost in refining capacity is driven by substantial investments and the expansion of existing facilities. Key projects include the expansion of the Panipat refinery by Indian Oil Corporation and the development of a new refinery in Ratnagiri by a consortium of state-run oil companies and Saudi Aramco. These initiatives aim to enhance India's ability to process crude oil efficiently, reducing dependency on imported refined products and bolstering energy security. In addition to increasing capacity, India is also focusing on upgrading its refineries to produce cleaner fuels, aligning with global environmental standards. The transition to Bharat Stage VI (BS-VI) norms, equivalent to Euro VI, represents a major step towards reducing vehicular emissions and improving air quality. This shift is part of India's broader commitment to sustainable development and reducing its carbon footprint. The expansion of refining capacity is expected to have far-reaching economic implications. It will create job opportunities, stimulate local economies, and attract foreign investments. Furthermore, it will enhance India's position as a key player in the global energy market, providing refined products to neighbouring countries and beyond. However, this growth is not without challenges. The industry must navigate fluctuating crude oil prices, regulatory hurdles, and the need for continuous technological advancements. Addressing these issues will be crucial for maintaining momentum and ensuring that the benefits of increased refining capacity are fully realised. In summary, India's refining capacity is set to grow substantially by 2024, reflecting the country's strategic efforts to enhance energy security, economic growth, and environmental sustainability. This development is pivotal for meeting the increasing energy demands of a rapidly growing economy.

Next Story
Resources

Mahindra selects ABB’s PixelPaint for premium paint options

ABB’s innovative PixelPaint technology has been selected by Mahindra & Mahindra (M&M), India’s leading SUV manufacturer, for its new electric vehicle paint facility. The technology, which uses an award-winning paint head similar to an inkjet printer, will begin serial production in 2025. “Our revolutionary PixelPaint technology can apply large areas of uniform color as well as the tiniest details with complete accuracy, without delaying the production line or the need for manual intervention,” said Joerg Reger, Managing Director of ABB Robotics Automotive Business Line. “By d..

Next Story
Infrastructure Transport

PJTL Lenders Approve Rs 10.20 billion One-Time Settlement

Lenders to the heavily indebted Panipat Jalandhar NH 1 Tollway (PJTL) have agreed to a one-time settlement for their Rs 34 billion dues. They accepted a Rs 10.20 billion all-cash offer from the promoters, the Canada-based Roadis Group and Hyderabad's Soma Enterprises, resulting in a 30% recovery, according to sources familiar with the deal. The account had been affected by farmers' agitation in the area for several years and was eventually declared a Non-Performing Asset (NPA). Several months ago, the National Asset Reconstruction Company (NARCL) had proposed to take over the debt, but the p..

Next Story
Infrastructure Urban

Capgemini to invest Rs 10 billion in new Chennai facility

Capgemini revealed plans to develop a new facility in Chennai, committing to invest approximately Rs 10 billion over the next three years. The IT and consulting services firm indicated that the 5,000-seat facility in Chennai is expected to be completed by April 2027. The campus will incorporate advanced energy and water-efficient technologies, utilize recycled materials, and implement rainwater harvesting during construction. Capgemini noted that the new facility is intended to become a prime destination for top-tier talent in southern India. It will be equipped with state-of-the-art IT in..

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 81086 03000

Join us Telegram