India will raise its crude oil refining capacity by 80% to 450 million tonnes in the next five year as it is set to nearly double its energy consumption over the long term, Prime Minister Narendra Modi on Monday said.
“We plan to grow our refining capacities from about 250 to 400 million metric tonnes per annum by 2025,” the Prime Minister said at the fourth India Energy Forum on ‘India’s Energy Future in a world of Change’ organised by CERA Week.
According to oil ministry’s datakeeper Petroleum Planning and Analysis Cell (PPAC), India’s refining capacity is 249.9 million tonnes, but capacity utilisation was higher at 254.4 million tonnes in 2019-20. That year India consumed 214.1 million tonnes of refined products domestically and exported the rest.
