PSU Watch logo

| EV owners can now charge vehicles using existing electricity connections |   | ICRA suggests long-term finance at low rates for power, renewables in Budget |   | GAIL’s Director (Marketing) ES Ranganathan arrested by CBI in corruption case |   | CAIT urges Centre to exempt GST registration for e-commerce sales |   | Indian Oil to invest Rs 7,000 cr in city gas distribution projects |  

India’s present refining capacity enough to meet demand: Pradhan

The domestic consumption of the country stood at 211.6 MMT in 2018-19, while the overall refining capacity was at 249.366 MMTPA

India’s present refining capacity enough to meet demand: Pradhan
India’s present refining capacity enough to meet demand: Pradhan

New Delhi: The domestic consumption of the country stood at 211.6 Million Metric Tonne (MMT) in 2018-19, while the overall refining capacity was at 249.366 Million Metric Tonne Per Annum (MMTPA). “The present refining capacity is adequate to meet the demand of petroleum products in the country,” Petroleum Minister Dharmendra Pradhan said on Wednesday.

The expansion plan for IOC

In a written response submitted in the Lok Sabha, Pradhan said that there is a plan to expand the capacities of five refineries of state-run Indian Oil Corporation (IOC). These refineries are located at Haldia, Barauni, Gujarat, Mathura and Panipat. The expansion projects are expected to cost Rs 61,133 crores.

ALSO READ: Drone attack on Aramco: Saudi assures India no disruption in oil flow

What about HPCL?

Two refineries of Hindustan Petroleum Corporation Ltd (HPCL) — Visakh Refinery in Visakhapatnam and Mumbai refinery — are also on the list, Pradhan informed. While Visakh will see its capacity rising from the current 8.3 MMTPA to 15 MMTPA, Mumbai refinery will see its capacity expanding from 7.5 MMTPA to 9.5 MMTPA. The projects are expected to cost Rs 25,988 crores. Oil Public Sector Undertakings (PSUs) are executing/evaluating brownfield and green-field refinery projects including Rajasthan Refinery project at Barmer, Rajasthan.

(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)