New Oil Refinery Planned on Maharashtra's Coast to Meet Soaring Demand

A 20-million-tonne oil refinery is being planned on the coast of Maharashtra, with joint development by three national oil marketing companies: Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL), and Indian Oil Corporation (IOC). The refinery aims to cater to the growing demand for hydrocarbon-based fuels in the Western and Southern markets, with a perspective plan until 2050.

Key Takeaways:

• The planned oil refinery has a capacity of 20 million tonnes and will be jointly developed by BPCL, HPCL, and IOC.
• The refinery's project cost is estimated at ₹1,419 crore, with expected annual savings of ₹128 crore due to efficient operations.
• The new facility will be a petrochemical hub with an eye on the world market, producing petroleum by-products for aircraft such as Boeing.
• The Petroleum Ministry and Niti Ayog have analyzed that there will be a huge demand for hydrocarbon-based fuels in the next 25 years.
• HPCL has been trying to set up a refinery on Maharashtra's coast for the last five years but faced opposition from local residents.

Statistics:

• The refinery is expected to save ₹128 crore annually due to efficient operations.
• The project cost of the CDU (Crude Distillation Unit) project is estimated at ₹1,419 crore.
• The International Energy Agency has predicted a three-fold growth in the Indian energy sector by 2040.
• The refinery will cater to the Western and Southern markets, which will experience huge demand for hydrocarbon-based fuels in the next 25 years.

Sources:

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