India will have to nearly double it’s existing hydrocarbon refining capacity to meet the fuel demand despite a rapid push towards electric vehicles according to Minister for Petroleum and Natural Gas, Dharmendra Pradhan.
Speaking at the Council on Energy, Environment and Water Energy Horizons 2019, Pradhan said, “In India, we have current domestic refining capacity of 250 MMTPA. Recent studies have pointed out that even with an aggressive EV roll out plan, India would need 450 MMTPA of refining capacity.”
“Unless we pay attention to this demand growth, in another few years, we will have to start importing refined products along with crude. And anyone investing in the refinery would need reasonable assurance that there will be demand for the economic life of the investment,” he added.
