Energyworld
Oil & Gas 360 Publishers Note: Narendra Modi, Prime Minister of India, again is demonstrating that his power policies are using the balanced diet of power to include fossil and renewable sources. His leadership in power principals should be noted by other countries. He is also targeting lower carbon emissions.
The countrys energy minister was quoted in June as saying Indias oil refining capacity could jump to 450-500 million tonnes in 10 years from the current level of about 250 million tonnes.
MUMBAI: India plans to nearly double itsoil refining capacityin the next five years, Prime Minister Narendra Modi said on Saturday, offering a much more aggressive timeline than previously despite thecoronaviruspandemic blighting the economy.
The countrys energy minister was quoted in June as saying Indias 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 universitys convocation, Modi said work is being done to nearly double the countrys oil refining capacity in the next five years.
Indian Prime Minister Narendra Modi (Photo: Prachatai/Flickr)
The convocation was also addressed virtually by billionaire Mukesh Ambani, whoseReliance IndustriesLtd operates the worlds biggest oil refinery in Modis 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.
India would achieve its targets of increasingrenewable energycapacity to 175 gigawatts by 2022 and 450 gigawatts by 2030 ahead of schedule, Modi added. The country had renewable energy capacity of about 75 gigawatts at the end of 2018.
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Modi says India set to double oil refining capacity in 5 years, earlier than expected - just part of the "balanced diet of power" - EnerCom...
