India Expands Oil Refining Capacity as Modi Cites 50 Years Without a New US Refinery
Updated
Updated · Bloomberg · Jul 4
India Expands Oil Refining Capacity as Modi Cites 50 Years Without a New US Refinery
3 articles · Updated · Bloomberg · Jul 4
Summary
India will keep building crude oil refineries, Narendra Modi said while inaugurating the country’s first new refinery in 10 years.
Supply-chain security is driving the push, with Modi arguing India needs more domestic processing capacity as Western nations shut refining units.
Modi contrasted India’s expansion with the US, where he said no new refinery has been built in the past five decades, and with Europe, where capacity has been steadily declining.
The policy signals India plans to deepen its role in oil processing even as some developed economies reduce refining infrastructure.