(ET)
India’s oil refining capacity is set to jump 80%, or by 194 mt (mt), by 2030 as state refiners, Reliance Industries and Rosneft line up expansion plans, undeterred by the renewables explosion, hoping to meet future demand.
Refiners may be able to process 439 mt of oil per annum by 2030, from 245 mt currently, according to a report prepared by a panel comprising oil ministry officials and top state and private refiners’ executives, which studied multiple scenarios scenarios to assess demand and refining capacity equirement by 2040.
RIL plans to add 30 mt of refining capacity, a 50% increase, by 2030 and Essar Refinery, now controlled by Russian giant Rosneft, is targeting to more than double capacity by adding 25 mt by 2025, according to the unpublished oil ministry report.
