BPCL Eyes Greenfield Refinery to Fuel India's Energy Demand Surge

Bharat Petroleum Corporation Ltd (BPCL) is considering a new oil refinery and petrochemical complex in Andhra Pradesh to meet India's rising energy needs. This project, part of BPCL's expansive strategy, highlights India's growing oil demand and potential as a refining hub.

Bharat Petroleum Corporation Ltd (BPCL) is eyeing a new greenfield oil refinery and petrochemical complex near Ramayapatnam Port, Andhra Pradesh. With India's energy demands soaring, BPCL seeks to augment its refining capacity to align with this burgeoning demand.

At BPCL's annual shareholder meeting, Chairman and Managing Director Sanjay Khanna emphasized India's position as the fastest-growing oil market. The country is set to account for one-third of the global oil demand increase by 2030. To tap into this potential, BPCL is conducting feasibility studies for the new facility.

While financial specifics remain undisclosed, the project is anticipated to cost around Rs 95,000 crore. Coupled with investments in petrochemicals, renewables, and green hydrogen, this move is aimed at transforming BPCL's profile as a sustainable energy leader.

(With inputs from agencies.)