亚博体育官网首页

Focus on smaller refineries to overcome land acquisition challenges
OIL & GAS

Focus on smaller refineries to overcome land acquisition challenges

Hardeep Singh Puri, the Minister for Petroleum and Natural Gas, addressed the attendees of the energy summit organised by the Indo-American Chamber of Commerce-North India Council (IACC- NIC), highlighting the government's shift towards setting up relatively smaller oil refineries with capacities of approximately 20 MMTPA. This approach aims to overcome the challenges associated with land acquisition, which have plagued larger refinery projects.

Puri emphasised that expanding the country's refinery capacity to 450 MMTPA remains a priority, and specific policy decisions will follow suit. He stressed the importance of avoiding overly large refineries, as they often encounter complications related to land acquisition and other issues. The minister's remarks are particularly relevant considering the obstacles faced by projects like the West Coast mega refinery, which has experienced delays due to land acquisition hurdles, environmental clearances, and funding issues. Initially announced in 2015, the $44 billion project in Maharashtra's Ratnagiri district aimed to achieve a record-breaking refinery capacity of 60 MMTPA. However, conflicts between the previous Maharashtra government controlled by the Shiv Sena party and the BJP-led Centre resulted in significant delays for the mega project.

Additionally, the Rajasthan Refinery Project (RRP), India's largest upcoming integrated refinery and petrochemical complex, has also fallen behind schedule since its announcement in 2013. To address these challenges, the government is in the process of forming a core team that will tackle the hurdles, revive discussions, and engage multiple stakeholders in meaningful dialogues. This team will consist of officials from the ministry, oil marketing companies (OMCs), and other relevant parties.

India's current refining capacity stands at approximately 250 MMTPA, equivalent to about 5 million barrels per day (bpd). However, with projected fuel demand expected to double to 10 million bpd by 2050, the need to expand refinery infrastructure becomes crucial.

Hardeep Singh Puri, the Minister for Petroleum and Natural Gas, addressed the attendees of the energy summit organised by the Indo-American Chamber of Commerce-North India Council (IACC- NIC), highlighting the government's shift towards setting up relatively smaller oil refineries with capacities of approximately 20 MMTPA. This approach aims to overcome the challenges associated with land acquisition, which have plagued larger refinery projects. Puri emphasised that expanding the country's refinery capacity to 450 MMTPA remains a priority, and specific policy decisions will follow suit. He stressed the importance of avoiding overly large refineries, as they often encounter complications related to land acquisition and other issues. The minister's remarks are particularly relevant considering the obstacles faced by projects like the West Coast mega refinery, which has experienced delays due to land acquisition hurdles, environmental clearances, and funding issues. Initially announced in 2015, the $44 billion project in Maharashtra's Ratnagiri district aimed to achieve a record-breaking refinery capacity of 60 MMTPA. However, conflicts between the previous Maharashtra government controlled by the Shiv Sena party and the BJP-led Centre resulted in significant delays for the mega project. Additionally, the Rajasthan Refinery Project (RRP), India's largest upcoming integrated refinery and petrochemical complex, has also fallen behind schedule since its announcement in 2013. To address these challenges, the government is in the process of forming a core team that will tackle the hurdles, revive discussions, and engage multiple stakeholders in meaningful dialogues. This team will consist of officials from the ministry, oil marketing companies (OMCs), and other relevant parties. India's current refining capacity stands at approximately 250 MMTPA, equivalent to about 5 million barrels per day (bpd). However, with projected fuel demand expected to double to 10 million bpd by 2050, the need to expand refinery infrastructure becomes crucial.

Next Story
Infrastructure Urban

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..

Next Story
Infrastructure Urban

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Next Story
Infrastructure Urban

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement