Petroleum minister lauds India's efforts towards self-sufficiency in the energy sector
Jul 26, 2024
New Delhi [India], July 26 : Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, lauded the country's increasing capabilities towards self-sufficiency in the energy sector.
Taking to social media "X" the Union Minister mentioned the expansion of the refining capabilities of Barauni, Panipat, and Gujarat Refineries, He said the expansion plans of these refineries are going on in full swing.
Posting a video of the ongoing project, the minister says that the installations of heavy and complex equipment have become a regular feature in the country's energy sector.
In his post, the minister said, "Pieces are falling in place to power India's unprecedented journey towards achieving energy self-sufficiency under the leadership of PM @narendramodi Ji. With the expansion of refineries at Barauni (6 to 9 MMTPA), Panipat (15 to 25 MMTPA) & the Gujarat Refinery (13.7 to 18 MMTPA) in full swing, installation of complex equipment with large dimensions weighing hundreds of tonnes has become a regular feature for our energy sector entities. With these significant expansions, @IndianOilcl stands poised to substantially boost its crude processing capacity & secure India's energy needs in the near future."
Indian Oil is expanding the capacity of refineries at Barauni, Panipat, and Vadodara in Gujarat.
The oil major is investing Rs 14,800 crore in expanding the refining capacity of its Barauni plant. The expansion would augment the capacity of IOC's Barauni refinery from 6.0 million tonnes per year to 9 million tonnes.
The Panipat refinery capacity is being expanded to 25 metric tonnes/year from the current 15 metric tonnes/year and it is also building a 450,000 tonne/year polypropylene (PP) plant. IOC has reported in a stock market filing that the Panipat project will be completed by December 2025, against its earlier target of September 2024.
The expansion project of the Gujarat refinery from 13.7 million tonnes per year to 18 million metric tonnes is done with an investment of Rs 17,825 crore.
The information available on the IOC website says that the oil company is currently executing 2814 projects with a cumulative investment of Rs 2,05,100 crore.
