New Refineries

After privatization, India has attained self sufficiency in refining crude oil. The present refining capacity stands at 116.97 MMTPA against annual consumption of 103.6 MMTPA. India imports around 69% of crude and with the growing demand of petroleum products, India has to keep the pace with refining capacity to avoid costly imports of refined products. Presently, there are 17 refineries of which 7 are owned by IOC. Some of the new projects are Bharat Oman Refinery with 6 MMTPA capacity in MP, IOC's east coast refinery in TN with a capacity of 9.0 MMTPA, HPCL's in Punjab and Essar (10.0 MMTPA) in Gujarat.