India to expand refinery capacity to 310 MMTPA by 2028

02 Dec 2024 CW Team

India will increase its refinery capacity from the current 256.8 million metric tonnes per annum (MMTPA) to 310 MMTPA by 2028, with ethanol blending in petrol set to reach 20% by next year, according to Petroleum and Natural Gas Minister Hardeep Singh Puri. Speaking at the FIPI Oil & Gas Awards 2023, Puri emphasised the nation’s strides in energy innovation and sustainability. Puri outlined plans for expanding India’s exploration acreage by 16% by 2025, targeting coverage of 1 million square kilometers by 2030. He also highlighted efforts to enhance LPG affordability, with PMUY households paying Rs 6 daily for refills, compared to Rs 14 for non-PMUY households.

City Gas Distribution (CGD) coverage has grown from 5.5% in 2014 to an expected 100% by 2024. India’s start-up ecosystem was also spotlighted, ranking third globally with over 1 lakh start-ups and 120 unicorns, bolstered by more than 1,400 deeptech patents filed in the past five years.

Puri announced that the next India Energy Week will be held from February 11–14, 2025, at Yashobhoomi, Dwarka, New Delhi. The event will feature over 700 exhibitors, 105 conferences, and attract more than 70,000 delegates, surpassing the 2024 edition's participation.

The minister detailed reforms in the hydrocarbon sector, including crude supply diversification, gas pricing adjustments, and opening NO-GO areas for exploration. These initiatives aim to ensure energy security and sustainability. The FIPI Oil & Gas Awards 2023 honoured excellence across more than 20 categories, including "Digitally Advanced Company of the Year" and "Innovator of the Year," showcasing contributions to India’s evolving energy landscape. (ET)

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