According to the most recent official projection, Indian refineries would increase at a far slower rate than originally predicted. By 2028, refiners would have added 56 million metric tons annually, bringing the domestic capacity up to 310 mtpa.
The refining capacity of Indian refineries is anticipated to rise by roughly 56 million metric tons annually by the year 2028, according to statistics prepared by the Centre for High Technology (CHT).
CHT is a technical division of the Ministry of Petroleum and Natural Gas.
254 MTPA is the current domestic refining capacity.
In a thorough analysis of refining capacity that was produced five years earlier by the oil ministry, it was predicted that capacity would increase to 259 million metric tons by 2020, 415 million metric tons by 2025, and 439 million metric tons annually by 2030.
According to the statement made at the time by the committee, these forecasts were based on “firm plans and the projects already conceptualized and accepted in principle.”
The latest estimate of 310 million metric tons of capacity by 2028 reveals a dramatic decline in refiners’ confidence in the market for refined goods in the future.
The government does not anticipate completing the 60 mtpa refinery-cum-petrochemicals complex in Maharashtra by 2028, despite a 56 million tpa annual expansion.
A collaboration between Saudi Aramco and state-run Indian refineries is the Maharashtra project.
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