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


Modi stated India was additionally aiming to boost the share of pure fuel in its energy-consumption combine by as much as 4 instances. The cleaner-burning gasoline at present accounts for about 6% of the vitality consumed within the nation.




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India would obtain its targets of accelerating renewable vitality capability to 175 gigawatts by 2022

India plans to almost double its oil refining capability within the subsequent 5 years, Prime Minister Narendra Modi stated on Saturday, providing a way more aggressive timeline than beforehand regardless of the coronavirus pandemic blighting the financial system. The nation’s vitality minister was quoted in June as saying India’s oil refining capability might soar to 450-500 million tonnes in 10 years from the present degree of about 250 million tonnes.

Also Read: Oil Falls On Demand Concerns, Posts Second Monthly Decline​

But addressing a petroleum college’s convocation, Modi stated “work is being done to nearly double the country’s oil refining capacity in the next five years”.

The convocation was additionally addressed just about by billionaire Mukesh Ambani, whose Reliance Industries Ltd operates the world’s largest oil refinery in Modi’s residence state of Gujarat.

Modi stated India was additionally aiming to boost the share of pure fuel in its energy-consumption combine by as much as 4 instances. The cleaner-burning gasoline at present accounts for about 6% of the vitality consumed within the nation.

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Also Read: Oil Prices Slip 3% As Europe Widens Lockdowns​

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India would obtain its targets of accelerating renewable vitality capability to 175 gigawatts by 2022 and 450 gigawatts by 2030 forward of schedule, Modi added. The nation had renewable vitality capability of about 75 gigawatts on the finish of 2018.

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