India’s Petroleum Minister Hardeep Singh Puri announced that India’s oil refining capacity is expected to rise from 258 MMTPA to around 310 MMTPA by 2030, with long-term goals of reaching 400-450 MMTPA, positioning India as a global refining hub.
He highlighted that 20% of existing global refining capacity may close by 2035, creating an opportunity for India.
The country is currently the fourth-largest refining nation and aims to meet a significant portion of future global energy demand. Key developments include a substantial reduction in green hydrogen prices and an emphasis on biofuels, natural gas, and renewables as part of India’s energy transition strategy.
Puri noted ongoing reforms and projects that reinforce India’s role in the global energy market as it approaches a $10 trillion economy.
Source – sarkaritel.com
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