India To Double Oil Refining Capacity In 5 Years

Prime Minister Narendra Modi said on Saturday that India is planning to double its oil refining capacity within the next five years, news agency Reuters reported.

Addressing a petroleum university's convocation, Modi said "work is being done to nearly double the country's oil refining capacity in the next five years".

Modi said India was also aiming to raise the share of natural gas in its energy-consumption mix by up to four times. The cleaner-burning fuel currently accounts for about 6% of the energy consumed in the country, the report said.0Comments

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

India's oil refining capacity could jump to 450-500 million tonnes in 10 years from the current level of about 250 million tonnes.