A refinery complex in Mumbai
Indian oil companies advance refining agenda
The country’s refinery sector continues to grow, but remains largely state-controlled
India’s state-backed oil companies are making some progress with the country’s plans to expand its refining capacity, their latest quarterly results reveal. But privatisation efforts do not appear to have progressed, and upstream activity remains relatively muted. Indian Oil Corporation (IOC) is continuing its programme of refinery capacity expansions, with three projects underway, as well as building and upgrading various petrochemical and other units at its facilities. IOC is in the process of adding 17.3mn t/yr of refining capacity, with capacity at the Panipat refinery set to increase to 25mn t/yr from 15mn t/yr, at the Gujarat to 18mn t/yr from 13.7mn t/yr and at the Barauni refinery to
Also in this section
15 August 2025
US secondary sanctions are forcing a rapid reassessment of crude buying patterns in Asia, and the implications could reshape pricing, freight and supply balances worldwide. With India holding the key to two-thirds of Russian seaborne exports, the stakes could not be higher
11 August 2025
The administration is pushing for deregulation and streamlined permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
