The UAE and Saudi Arabia have shown interest in investing in India’s refining sector, Petroleum and Natural Gas Minister Hardeep Singh Puri said on September 24.
India currently has refining capacity of around 5.4 million barrels per day and aims to raise it to 6.2–6.4 million barrels per day through new refineries and upgrades to existing facilities.
Puri said building a refinery requires significant investment, with the cost estimated at around ₹78,000–80,000 crore. He added that investors are interested in participating in the opportunity to access India’s growing downstream fuel market.
India is the world’s third-largest oil importer and consumer, making the expansion of domestic refining capacity a key part of its energy infrastructure plans.
