RoydadNaft –   India’s refining capacity is poised for significant growth, reaching 276.1 million metric tonnes (MMT) by 2024, up from 266.5 MMT in 2023. This increase underscores India’s strategic focus on strengthening its energy infrastructure to meet rising domestic and global demand.

In addition to increasing capacity, India is also focusing on upgrading its refineries to produce cleaner fuels, aligning with global environmental standards. The transition to Bharat Stage VI (BS-VI) norms, equivalent to Euro VI, represents a major step towards reducing vehicular emissions and improving air quality. This shift is part of India’s broader commitment to sustainable development and reducing its carbon footprint.

The expansion of refining capacity is expected to have far-reaching economic implications. It will create job opportunities, stimulate local economies, and attract foreign investments. Furthermore, it will enhance India’s position as a key player in the global energy market, providing refined products to neighbouring countries and beyond.

However, this growth is not without challenges. The industry must navigate fluctuating crude oil prices, regulatory hurdles, and the need for continuous technological advancements. Addressing these issues will be crucial for maintaining momentum and ensuring that the benefits of increased refining capacity are fully realised.

In summary, India’s refining capacity is set to grow substantially by 2024, reflecting the country’s strategic efforts to enhance energy security, economic growth, and environmental sustainability. This development is pivotal for meeting the increasing energy demands of a rapidly growing economy.