News Release Details
Refining capacity to be raised by 92 mn tons in 11th plan: Deora
New Delhi 21-Sep-2007
The government would augment the country's oil refining capacity by 92 million tons from the present 149 million tons in the 11th plan through installation of four grass-root refineries. Petroleum Minister Murli Deora said here today. The four refineries would come up at Bina (BPCL), Paradip (IOCL) Bhatinda (HPCL) and Jamnagar (Reliance and Essar), Deora said at the 14th Refinery Technology Meet at Kovalam near here today. The- present refining capacity of 149 million tons per annum was much higher than the present consumption of 120 million, he said. Though the country's energy sector faced several daunting challenges, including the rise in crude oil prices, the government had ensured that additional cost was not passed on to the common man by bearing 85 percent of increased cost burden, he said. Though India has crude oil reserves to meet less than 25 per cent of the requirement, the country was surplus in refining capacity. Along with rise in demand for energy and rapid growth in petroleum consumption, environmental concerns had also increased, he said. The focus of the three-day meet, being attended by technical and managerial experts of the oil sector, was "Energy and Environment Challenges for the Hydrocarbon Sector".
New Delhi 21-Sep-2007
The government would augment the country's oil refining capacity by 92 million tons from the present 149 million tons in the 11th plan through installation of four grass-root refineries. Petroleum Minister Murli Deora said here today. The four refineries would come up at Bina (BPCL), Paradip (IOCL) Bhatinda (HPCL) and Jamnagar (Reliance and Essar), Deora said at the 14th Refinery Technology Meet at Kovalam near here today. The- present refining capacity of 149 million tons per annum was much higher than the present consumption of 120 million, he said. Though the country's energy sector faced several daunting challenges, including the rise in crude oil prices, the government had ensured that additional cost was not passed on to the common man by bearing 85 percent of increased cost burden, he said. Though India has crude oil reserves to meet less than 25 per cent of the requirement, the country was surplus in refining capacity. Along with rise in demand for energy and rapid growth in petroleum consumption, environmental concerns had also increased, he said. The focus of the three-day meet, being attended by technical and managerial experts of the oil sector, was "Energy and Environment Challenges for the Hydrocarbon Sector".