India's Refining Capacity Set to Soar

06 Jun 2024 CW Team

The boost in refining capacity is driven by substantial investments and the expansion of existing facilities. Key projects include the expansion of the Panipat refinery by Indian Oil Corporation and the development of a new refinery in Ratnagiri by a consortium of state-run oil companies and Saudi Aramco. These initiatives aim to enhance India's ability to process crude oil efficiently, reducing dependency on imported refined products and bolstering energy security.

In addition to increasing capacity, India is also focusing on upgrading its refineries to produce cleaner fuels, aligning with global environmental standards. The transition to Bharat Stage VI (BS-VI) norms, equivalent to Euro VI, represents a major step towards reducing vehicular emissions and improving air quality. This shift is part of India's broader commitment to sustainable development and reducing its carbon footprint.

The expansion of refining capacity is expected to have far-reaching economic implications. It will create job opportunities, stimulate local economies, and attract foreign investments. Furthermore, it will enhance India's position as a key player in the global energy market, providing refined products to neighbouring countries and beyond.

However, this growth is not without challenges. The industry must navigate fluctuating crude oil prices, regulatory hurdles, and the need for continuous technological advancements. Addressing these issues will be crucial for maintaining momentum and ensuring that the benefits of increased refining capacity are fully realised.

In summary, India's refining capacity is set to grow substantially by 2024, reflecting the country's strategic efforts to enhance energy security, economic growth, and environmental sustainability. This development is pivotal for meeting the increasing energy demands of a rapidly growing economy.

India's refining capacity is poised for significant growth, reaching 276.1 million metric tonnes (MMT) by 2024, up from 266.5 MMT in 2023. This increase underscores India's strategic focus on strengthening its energy infrastructure to meet rising domestic and global demand. The boost in refining capacity is driven by substantial investments and the expansion of existing facilities. Key projects include the expansion of the Panipat refinery by Indian Oil Corporation and the development of a new refinery in Ratnagiri by a consortium of state-run oil companies and Saudi Aramco. These initiatives aim to enhance India's ability to process crude oil efficiently, reducing dependency on imported refined products and bolstering energy security. In addition to increasing capacity, India is also focusing on upgrading its refineries to produce cleaner fuels, aligning with global environmental standards. The transition to Bharat Stage VI (BS-VI) norms, equivalent to Euro VI, represents a major step towards reducing vehicular emissions and improving air quality. This shift is part of India's broader commitment to sustainable development and reducing its carbon footprint. The expansion of refining capacity is expected to have far-reaching economic implications. It will create job opportunities, stimulate local economies, and attract foreign investments. Furthermore, it will enhance India's position as a key player in the global energy market, providing refined products to neighbouring countries and beyond. However, this growth is not without challenges. The industry must navigate fluctuating crude oil prices, regulatory hurdles, and the need for continuous technological advancements. Addressing these issues will be crucial for maintaining momentum and ensuring that the benefits of increased refining capacity are fully realised. In summary, India's refining capacity is set to grow substantially by 2024, reflecting the country's strategic efforts to enhance energy security, economic growth, and environmental sustainability. This development is pivotal for meeting the increasing energy demands of a rapidly growing economy.

Infrastructure Transport

15 Sep 2025

Cabinet Approves Key Highway and Rail Projects in Bihar Region

The Union Cabinet on Wednesday approved the four-laning of the 84.2-km Mokama-Munger section of the Buxar-Bhagalpur high-speed corridor, a key industrial region in poll-bound Bihar. The Cabinet also sanctioned the doubling of the 177-km Bhagalpur-Dumka-Rampurhat railway line, which passes through Bihar, Jharkhand, and West Bengal, at a cost of Rs 31.7 billion.The Rs 44.5 billion highway project will be constructed under the hybrid annuity model, a variant of public-private partnership. The Mokama-Munger stretch was the only remaining two-lane section of the 363-km Buxar-Bhagalpur corridor. Fou..

Infrastructure Transport

15 Sep 2025

NGT Issues Notice on Bengaluru Twin Tunnel Project

The National Green Tribunal (NGT) on Wednesday issued notices in response to a petition filed by Bengaluru Praja Vedike and others, challenging the Bengaluru twin tunnel road project. Petitioners claim the project was “hastily announced” and bypassed mandatory environmental impact assessment procedures.Notices have been served to the Karnataka Government, Greater Bengaluru Authority, State Environment Impact Assessment Authority (SEIAA), Bengaluru Smart Infrastructure Ltd (B-SMILE), the Union Ministry of Environment, Forest and Climate Change, and project consultants.The 16.74-km twin-tube..

Real Estate

15 Sep 2025

India’s Residential Sales to Dip Slightly in FY26

Residential sales in India’s seven major cities are projected to decline by up to 3 per cent year-on-year in FY26 to 620–640 million square feet (msf), amid a moderation in sales velocity, according to ratings agency Icra.In FY25, sales stood at 643 msf, down 8 per cent YoY, following a sharp contraction in new launches and moderated demand in the affordable and mid-income segments. This slowdown came after the sector posted a robust compound annual growth rate of 26 per cent in area sales between FY22 and FY24.Icra noted: “Having seen a strong upcycle, the sector entered an equilibrium ..