PM Modi says India set to double oil refining capacity in five years
India plans to nearly double its oil refining capacity in the next five years, Prime Minister Narendra Modi said on Saturday, offering a much more aggressive timeline than previously despite the coronavirus pandemic blighting the economy.
The country’s energy minister was quoted in June as saying India’s oil refining capacity could jump to 450-500 million tonnes in 10 years from the current level of about 250 million tonnes.
But addressing a petroleum university’s convocation, Modi said “work is being done to nearly double the country’s oil refining capacity in the next five years”.
The convocation was also addressed virtually by billionaire Mukesh Ambani, whose Reliance Industries Ltd operates the world’s biggest oil refinery in Modi’s home state of Gujarat.
