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The world is on the cusp of what’s likely to be the last big refining boom as India embarks on a capacity expansion to accommodate the country’s rising thirst for fossil fuels. ....
India is embarking on a capacity expansion of its oil refineries to meet the country s rising thirst for fossil fuels. The building blitz aims to raise production of traditional transport fuels such as gasoline and diesel, which will increase India s refining capacity by more than 20% over the next five years. This boost comes at a time when the global refining industry is declining in the US and Europe, making India a rare exception. The slower adoption of electric vehicles in India and the country s growing transport demand will keep the appetite for gasoline and diesel higher for longer. ....
(Bloomberg) The world is on the cusp of what’s likely to be the last big refining boom as India embarks on a capacity expansion to accommodate the country’s rising thirst for fossil fuels.Most Read from BloombergMusk’s $55 Billion Pay Package Voided, Threatening World’s Biggest FortuneMusk Says First Neuralink Patient Received Implant in BrainMicrosoft Sales Top Estimates; Cloud Growth Disappoints SomeTech Giants Slide in Late Trading After Earnings: Markets WrapUPS CEO Kicks Off Productivity ....
The South Asian nation has set in motion a building blitz at its oil refineries to raise production of traditional transport fuels such as gasoline and diesel, which could lift capacity by more than 20% over the next five years. Rystad Energy puts the cost of additions at around $60 billion. ....