India Plans to Expand Refining Capacity by 56 Million Tons

India Plans to Expand Refining Capacity by 56 Million Tons

India is planning to increase its refining capacity by 56 million tons in the next six years to meet growing demand and reduce its dependence on imported fuels. The country aims to enhance self-sufficiency and take advantage of the transitioning global energy market. State-run refiners will likely bear most of the responsibility for these expansion projects. Reliance Industries, India’s largest private oil processor, is also seeking to replace gasoline and diesel with cleaner fuels. Demand for petroleum products in India is projected to grow by 1.3 million barrels per day by 2030, according to Wood Mackenzie.

TIS Staff

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