New Cars and Bikes in India

PM Modi Says India Set To Double Oil Refining Capacity In Five Years, Earlier Than Expected

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 increasing renewable energy capacity to 175 gigawatts by 2022 expand View Photos
India would achieve its targets of increasing renewable energy capacity to 175 gigawatts by 2022

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 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.

Also Read: Oil Falls On Demand Concerns, Posts Second Monthly Decline​

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.

Newsbeep

Also Read: Oil Prices Slip 3% As Europe Widens Lockdowns​

0 Comments

India would achieve its targets of increasing renewable energy capacity 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.

For the latest auto news and reviews, follow carandbike.com on Twitter, Facebook, and subscribe to our YouTube channel.

You might be interested in

New Car Models

Toyota Innova Crysta

MUV, 10.75 - 15.1 Kmpl
Toyota Innova Crysta
Ex-showroom Price
₹ 16.26 Lakh
EMI Starts
₹ 33,753 9% / 5 yrs

Hyundai i20

Hatchback, 0 Kmpl
Hyundai i20
Ex-showroom Price
₹ 6.8 Lakh
EMI Starts
₹ 14,114 9% / 5 yrs

BMW X3 M

SUV, 9.12 Kmpl
BMW X3 M
Ex-showroom Price
₹ 1 Crore
EMI Starts
₹ 2,07,376 9% / 5 yrs

Land Rover Defender

SUV, 14 Kmpl
Land Rover Defender
Ex-showroom Price
₹ 73.98 Lakh
EMI Starts
₹ 1,53,570 9% / 5 yrs

BMW 2 Series Gran Coupe

Sedan, 19 Kmpl
BMW 2 Series Gran Coupe
Ex-showroom Price
₹ 39.3 Lakh
EMI Starts
₹ 81,580 9% / 5 yrs

Mercedes-Benz EQC

SUV, 471 Km/Full Charge
Mercedes-Benz EQC
Ex-showroom Price
₹ 1 Crore
EMI Starts
₹ 2,06,130 9% / 5 yrs

MG Gloster

SUV, 12.35 Kmpl
MG Gloster
Ex-showroom Price
₹ 28.98 Lakh
EMI Starts
₹ 60,158 9% / 5 yrs

New Mahindra Thar 2020

SUV, 13 - 15.2 Kmpl
New Mahindra Thar 2020
Ex-showroom Price
₹ 9.8 Lakh
EMI Starts
₹ 20,343 9% / 5 yrs
Be the first one to comment
Thanks for the comments.