BPCL plans new refinery; India seeks oil deals with Russia
OIL & GAS

BPCL plans new refinery; India seeks oil deals with Russia

State-owned Bharat Petroleum Corporation (BPCL) plans to construct a new oil refinery to address the increasing demand for fuels like petrol and diesel, as announced by Petroleum Minister Hardeep Singh Puri, marking his second tenure in the ministry. Outlining his priorities for the third term of Prime Minister Narendra Modi's government, Puri emphasised the importance of discovering and producing more oil and gas to reduce India's dependence on imports. He also highlighted green hydrogen, natural gas, refining, and petrochemicals as key focus areas.

The government has recently ensured the "availability, affordability, and sustainability" of energy for citizens, Puri noted, adding that they have performed well in this regard. He stated that this approach would continue in Modi 3.0.

Detailing his priorities, Puri mentioned that attracting investors to oil and gas exploration and production in ongoing bid rounds and unique tenders, such as the one by ONGC seeking a foreign partner to boost output at Mumbai High, one of India's old fields, would be high on the agenda.

He also stressed the continued push towards the production and increased usage of green hydrogen, a zero-emission alternative to fossil fuels, and encouraged the use of biofuels.

Regarding securing crude oil supplies, which are refined into fuels like petrol and diesel, Puri said India has diversified its sources, including from Russia. He pointed out that India has become the largest buyer of Russian sea-borne oil, taking advantage of discounted barrels after some Western nations stopped purchases following Moscow's invasion of Ukraine in February 2022.

Puri expressed confidence in the long-standing partnership with the Russian Federation and in the potential for both private and public sector players in India to sign long-term deals with countries offering beneficial terms.

State-owned Bharat Petroleum Corporation (BPCL) plans to construct a new oil refinery to address the increasing demand for fuels like petrol and diesel, as announced by Petroleum Minister Hardeep Singh Puri, marking his second tenure in the ministry. Outlining his priorities for the third term of Prime Minister Narendra Modi's government, Puri emphasised the importance of discovering and producing more oil and gas to reduce India's dependence on imports. He also highlighted green hydrogen, natural gas, refining, and petrochemicals as key focus areas. The government has recently ensured the availability, affordability, and sustainability of energy for citizens, Puri noted, adding that they have performed well in this regard. He stated that this approach would continue in Modi 3.0. Detailing his priorities, Puri mentioned that attracting investors to oil and gas exploration and production in ongoing bid rounds and unique tenders, such as the one by ONGC seeking a foreign partner to boost output at Mumbai High, one of India's old fields, would be high on the agenda. He also stressed the continued push towards the production and increased usage of green hydrogen, a zero-emission alternative to fossil fuels, and encouraged the use of biofuels. Regarding securing crude oil supplies, which are refined into fuels like petrol and diesel, Puri said India has diversified its sources, including from Russia. He pointed out that India has become the largest buyer of Russian sea-borne oil, taking advantage of discounted barrels after some Western nations stopped purchases following Moscow's invasion of Ukraine in February 2022. Puri expressed confidence in the long-standing partnership with the Russian Federation and in the potential for both private and public sector players in India to sign long-term deals with countries offering beneficial terms.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code