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APR 21 2017

India meeting fuel requirements of other nations', Dharmendra Pradhan

  • Economic Times, ET Bureau / Hyderabad
  • Created: Fri 21st APR 2017

Stating that India was moving to the centre stage of the world’s energy market, Union minister of state for the ministry of petroleum and natural gas Dharmendra Pradhan said refineries in the country are not only meeting requirements for India, but also fulfilling requirement of neighbouring countries.Participating in the 21st Refinery Technology Meet organised by Centre for High Technology and HPCL in the city on Thursday, Pradhan said that Indian refineries are already fulfilling requirements for Nepal, Bhutan, Bangladesh and Sri Lanka. He said talks are on with Myanmar for supply of petroleum products from Indian refineries.

Mentioning that Indian refineries currently have a capacity of 230 million metric tonnes, Pradhan said work on greenfield projects with an estimated 70 million metric tonne capacity is already underway and brownfield projects with an expansion of 55 mmt is also being planned.

He said by 2040, the requirement of oil and gas is expected to rise to 600 million metric tonnes, which is three-fold to the current requirement.

The refineries are not just playing a role for the Indian market, but also have responsibility to fulfil aspirations of countries in this part of the world, the minister said. Indian companies are engaging with Malaysia, Indonesia and Thailand to see if refineries can be set up in those countries, he added.

Furthermore, he said by 2020, refineries will be leapfrogging from the BS-IV fuel to BS-VI fuel, which will be beneficial for the environment. Pradhan said the current challenges is price-efficiency and affordability for providing fuel to the poor.

Later, he participated in the inauguration of a mega driving training workshop in the city organised by HPCL.

Tags

Nepal Bhutan Bangladesh Gas Natural Gas Oil Petroleum Products Indonesia Energy Refinery Petroleum Minister of State Hindustan Petroleum Corporation Limited Oil and Gas bangladesh India Bangladesh

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