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OIL PRODUCTS: India’s Refining Capacity to Expand 20% by 2028: Platts

OIL PRODUCTS
IndiaEnergy BulletsBulletAPACCommodities

India's refining capacity is set to expand by over 20% in the next three years due to rising domestic and overseas demand for oil products, Platts said.

  • Petroleum Minister Hardeep Singh Puri stated that capacity utilisation will increase from 256m mt to 309m mt by 2028, with recent refinery runs as high as 103%.
  • Platts sees India’s refining capacity hitting 300m mt by 2028.
  • Refiners are also developing new facilities. The HPCL Rajasthan Refinery is set to start this year; Chennai Petroleum plans a new refinery by 2027.
  • Indian refineries processed 5.29m b/d of crude in November, up 5% month-on-month.
  • India is forecast to deliver 3.2% oil demand growth in 2025.
  • India's oil product demand rose 9.3% year over year in November, with crude imports up 2.6%.
  • Boosting capacity will not only help domestic demand, but also boost the country’s exports, with Europe a key market.
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India's refining capacity is set to expand by over 20% in the next three years due to rising domestic and overseas demand for oil products, Platts said.

  • Petroleum Minister Hardeep Singh Puri stated that capacity utilisation will increase from 256m mt to 309m mt by 2028, with recent refinery runs as high as 103%.
  • Platts sees India’s refining capacity hitting 300m mt by 2028.
  • Refiners are also developing new facilities. The HPCL Rajasthan Refinery is set to start this year; Chennai Petroleum plans a new refinery by 2027.
  • Indian refineries processed 5.29m b/d of crude in November, up 5% month-on-month.
  • India is forecast to deliver 3.2% oil demand growth in 2025.
  • India's oil product demand rose 9.3% year over year in November, with crude imports up 2.6%.
  • Boosting capacity will not only help domestic demand, but also boost the country’s exports, with Europe a key market.