You are the news now

THE NEWS COMMENTER

VOTE  (0)  (0)

Modi says India set to double oil refining capacity in five years, earlier than expected

Added 11-21-20 04:04:03am EST - “India plans to nearly double its oil refining capacity in the next five years, Prime Minister Narendra Modi said on Saturday, offering a much more aggressive timeline than previously despite the coronavirus pandemic blighting the…” - News.yahoo.com

CLICK TO SHARE

Posted By TheNewsCommenter: From News.yahoo.com: “Modi says India set to double oil refining capacity in five years, earlier than expected”. Below is an excerpt from the article.

MUMBAI (Reuters) - India plans to nearly double its oil refining capacity in the next five years, Prime Minister Narendra Modi said on Saturday, offering a much more aggressive timeline than previously despite the coronavirus pandemic blighting the economy.

The country's energy minister was quoted http://www.ficci.in/ficci-in-news-page.asp?nid=23094 in June as saying India's oil refining capacity could jump to 450-500 million tonnes in 10 years from the current level of about 250 million tonnes.

But 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".

The convocation was also addressed virtually by billionaire Mukesh Ambani, whose Reliance Industries Ltd operates the world's biggest oil refinery in Modi's home state of Gujarat.

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.

Read more...

If you don't see any comments yet, congrats! You get first comment. Be nice and have fun.

CLICK TO SHARE

BACK TO THE HOME-PAGE