India state refiners are set to invest 2 trillion rupees ($26.96 billion) to boost oil refining capacity by 20% in Asia’s third-largest economy by 2025, junior oil minister, Rameswar Teli, told lawmakers on Wednesday.<\/p>\n
India, the world’s third-biggest oil importer and consumer has refining capacity of about 249 million tonnes a year, equivalent to about 5 million barrels per day (bpd). Refining capacity is expected to climb to 298 million tonnes a year by 2025, Teli said in a written reply.<\/p>\n
“The refining industry has been modernized and upgraded continuously with the indigenous and imported technologies for refining cost reduction” and product upgrading, he said.<\/p>\n
The country’s top refiner, Indian Oil Corp, in its latest annual report said it would boost its annual oil refining capacity to 87.55 million tonnes by 2024\/25 from the current 70.05 million tonnes to meet growing demand for petroleum products.<\/p>\n
India will be the main driver of rising demand for energy over the next two decades, accounting for 25% of global growth, and is set to overtake the European Union as the world’s third-biggest energy consumer by 2030, the International Energy Agency said in a report earlier this year.<\/p>\n
It is also nearly doubling its 3.2 million tonnes a year petrochemical capacity by adding another 3.1 million tonnes by 2024\/25.<\/p>\n","protected":false},"excerpt":{"rendered":"
India state refiners are set to invest 2 trillion rupees ($26.96 billion) to boost oil refining capacity by 20% in Asia’s third-largest economy by 2025, junior oil minister, Rameswar Teli, told lawmakers on Wednesday. India, the world’s third-biggest oil importer and consumer has refining capacity of about 249 million tonnes a year, equivalent to about 5 million barrels per day (bpd). Refining capacity is expected to climb to 298 million tonnes a year by 2025, Teli said in a written reply. “The refining industry has been modernized and upgraded continuously with the indigenous and imported technologies for refining cost reduction” […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-429262","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/429262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=429262"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/429262\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=429262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=429262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=429262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}