BPCL's Bold Move: New Oil Refinery to Meet Rising Fuel Demands

BPCL plans to build a new oil refinery to address increasing fuel demands, as announced by Petroleum Minister Hardeep Singh Puri. The government aims to cut import reliance through oil and gas production and focus on green hydrogen and biofuels. BPCL's new refinery is part of a broader strategy to enhance energy security.

State-owned Bharat Petroleum Corporation Ltd (BPCL) is slated to construct a new oil refinery, aiming to meet the rising demand for fuels such as petrol and diesel. This initiative was confirmed on Tuesday by Petroleum Minister Hardeep Singh Puri as he resumed his position for a second term.

Outlining his priorities for the Modi-led government's third term, Puri emphasized the importance of increasing oil and gas extraction to reduce India's dependence on imports. Additionally, the focus will remain on green hydrogen, natural gas, refining, and petrochemicals. "We have performed well in ensuring the availability, affordability, and sustainability of energy for our citizens, and this will continue to be our mantra in Modi 3.0 as well," Puri stated.

Puri also highlighted the government's strategy to attract investors in the ongoing bid rounds for oil and gas exploration and production. He mentioned ONGC's unique tender seeking a foreign partner to boost output at the Mumbai High field. Further, Puri reiterated India's diversified sources for crude oil, noting an increase in imports from Russia.

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