Refining capacity to be raised by 92 million tons: Deora | business | Hindustan Times
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Refining capacity to be raised by 92 million tons: Deora

business Updated: Sep 20, 2007 17:52 IST

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 Thiruvananthapuram on Thursday.

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 Thiruvananthapuram on Thursday.

The present the 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 per cent of the 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.

Alongwith 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".

The meet was organised by the Centre for High Technology and Mangalore Refinery and Petrochemicals Ltd (MRPL).