Crude refining capacity to rise 80% by 2025: PM

Hindustan Times | Oct 26, 2020 at 7:19 PM
  • India will raise its crude oil refining capacity by 80% to 450 million tonnes in the next five year as it is set to nearly double its energy consumption over the long term.
  • India’s refining capacity is 249.9 million tonnes, but capacity utilisation was higher at 254.4 million tonnes in 2019-20.
  • Due to spread of Covid-19 pandemic worldwide and subsequent lockdown of various global economies benchmark Brent crude had plunged below $20 a barrel by April 21 due to slack demand and oversupply from over $51.9 per barrel on March 2.