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
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
