PM Modi Says India Set To Double Oil Refining Capacity In Five Years, Earlier Than Expected

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Modi said India is also aiming to quadruple the share of natural gas in its energy consumption mix. Cleaner fuel currently accounts for around 6% of the energy consumed in the country.


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India to meet targets to increase renewable energy capacity to 175 gigawatts by 2022

India plans to almost double its oil refining capacity over the next five years, Prime Minister Narendra Modi said on Saturday, offering a much more aggressive schedule than before despite the coronavirus pandemic ravaging the economy. The country’s energy minister reportedly said in June that India’s oil refining capacity could increase to 450-500 million tonnes in 10 years from the current level of around 250 million tonnes.

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But of the convening of an oil university, Modi said that “work is underway to almost double the country’s oil refining capacity in the next five years.”

The summons was also addressed virtually by billionaire Mukesh Ambani, whose Reliance Industries Ltd operates the world’s largest oil refinery in Modi’s home state of Gujarat.

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Modi said India is also aiming to quadruple the share of natural gas in its energy consumption mix. Cleaner fuel currently accounts for around 6% of the energy consumed in the country.

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India would meet its targets of increasing its renewable energy capacity to 175 gigawatts by 2022 and 450 gigawatts by 2030 ahead of schedule, Modi added. The country had a renewable energy capacity of around 75 gigawatts at the end of 2018.

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