India cements role as refining hub
The country’s hybrid model of state-backed and private refiners, often collaborating, continues to enjoy success
Brisk growth in domestic consumption and the lure of export markets have helped propel a rapid expansion of India’s refining sector over the last two decades, boosting the country to becoming the world’s fourth-largest refiner by volume—behind the US, China, and Russia—and the second-largest in Asia. And following a particularly lucrative period for Indian refiners, more capacity additions are planned. India’s steady economic growth has helped underpin significant investments in the crude processing sector. And that expansion is expected to continue, bringing additional demand for refined products. The IMF has revised down to 6.8pc India’s projected growth for the 2022–23 financial year (whi
Also in this section
28 March 2024
The country’s largest gas field is a bright spot for the North Sea, boasting cleaner operations amid a changing mood in Europe over hydrocarbons
28 March 2024
Whether OPEC+ starts to unwind its oil production cuts from June will depend on heavily debated unfolding supply-demand balances
28 March 2024
As a gas supply shortfall looms, balancing regulatory flexibility with energy security and investor confidence will be critical
27 March 2024
Oil producers have to untangle the increasingly complicated relationship with their natural resources