India's economic survey predicts oil-refining capacity to rise 15%

The Economic Survey 2011-12, which was discussed by India’s Parliament, states that the country’s total refining capacity as of January 1, 2012 was 193.39 million tons (MT) per annum (MTPA). Out of this, 116.89 MT is in the public sector, 6 MT in joint ventures, and the remaining 70.50 MT is in the private sector. There are now 21 refineries operating in the country, and of these, 17 are in public sector, three in private sector, and one is a joint venture between BPCL and Oman Oil Company. “The refinery capacity is further expected to increase to 214.07 million tonnes per annum by the end of 2011-12,” the report stated. The Economic Survey also concluded that: “The country is not only self-sufficient in refining capacity for its domestic consumption but also substantially exports petroleum products.” (March 15, 2012)