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2021-08-05 14:55:00

INDIA'S DOWNSTREAM INVESTMENT $27 BLN

INDIA'S DOWNSTREAM INVESTMENT $27 BLN

ENERDATA5 Aug 2021 - Indian state-owned oil and gas groups, which include Indian Oil Corporation (IOC), Oil and Natural Gas Corporation (ONGC), Bharat Petroleum and their affiliates, plan to invest INR2,000bn (US$27bn) to increase the country’s refining capacity by 20% to 298 Mt/year in 2025. In addition, India’s refining industry is expected to be modernised and upgraded to reduce costs. IOC aims to ramp up its refining capacity by 25% to 88 Mt/year by 2024-2025.

India’s refining capacity stood at 251 Mt/year at the end of 2020. India is the fourth largest producer of oil products in the world, with an output of 232 Mt in 2020 (-11% compared to 2019). The country is a net exporter of oil products (12.5 Mt in 2020).

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Tags: INDIA, DOWNSTREAM, INVESTMENT
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