India poised to refine for world as global capacity declines: Hardeep Puri

Business Standard · 27/10/2026, 9:49:29 am

India is poised to strengthen its position as a global refining hub, with its oil processing capacity set to rise to 300 million tonnes annually by 2030 even as Europe and other parts of the Western world see refinery capacity decline, Union Minister Hardeep Singh Puri said on Tuesday. India's refining capacity is currently around 290 million tonnes per annum and is expected to expand further by scaling up existing facilities and adding new projects, the Union Petroleum Minister said at a news conference on the sidelines of the 29th Energy Technology and Innovation Meet in south Goa. He said the expansion will allow India not only to meet its domestic energy requirements but also to supply more petroleum products to international markets. "With refining capacity increasing in a big way, we will be in the happy situation of not only refining for ourselves, but for the world," Puri added. He contrasted India's expanding refining infrastructure with the decline in global capacity, ...