India Development News & Foreign Investment Opportunities

India needs to increase refining capacity

EV policy on the anvil

0

EV policy on the anvil

 

Pradhan on petroleum demand and increasing refining capacity.

 

Despite changing global trends, consumption of petrol and diesel in India is growing in excess of 5% per annum which would lead to increasing refining capacity, Petroleum and Natural Gas Dharmendra Pradhan has said.

“Whatever be the scenario of the growth of Electric vehicles, India would still need higher refining capacities,” he said at the Global Mobility Summit 2018 on 8 Sept 2018.

To achieve cleaner emissions, the Minister added, India will leapfrog from BS-IV to BS-VI standards.

Pradhan said the Government has already implemented fuel efficiency norms for commercial heavy vehicles.

The use of CNG, LNG and Bio-CNG is being promoted in the transport sector.

He also disclosed that efforts are being made by Public sector oil companies and some private enterprises in setting up LNG distribution infrastructure for long-distance travelling commercial vehicles.

He said that 12 bio-refineries are being set up and steps are being taken to achieve 10% ethanol blending. Soon, Bio-ATF and Bio-CNG policies will be formulated.

Inter-ministerial teams are working to put in place a comprehensive policy on Electric Vehicles, said Pradhan of the challenges concerning setting up of infrastructure and economy of converting to EVs.

The Ministry has projected India’s crude oil refining capacity of 533 million tonnes per annum (mtpa) by 2040 to meet the domestic demand, up from the existing of 247.6 mtpa. fiinews.com

Leave A Reply

Your email address will not be published.