Overview
- Puri said installed refining capacity is about 258 MMTPA, with targets of roughly 310 MMTPA by 2030 and 400–450 MMTPA in the longer term.
- He projected India could rise to the world’s second-largest refining power by 2035 as closures trim global capacity.
- India exported over USD 45 billion of petroleum products to more than 50 countries in FY 2024–25, and the sector contributes about 19% of overall tax revenues.
- Domestic oil consumption is around 5.6 million barrels per day and, by the minister’s estimate, will soon near 6 million.
- Ethanol blending hit 10% ahead of schedule with a 20% goal set for 2025–26, green hydrogen tender prices have fallen to about USD 4/kg, and officials flagged ~80% indigenisation even as 70–75% of refinery catalysts are still imported, prompting PLI support and a new catalyst research centre.