India Opens First New Oil Refinery in a Decade as Modi Inaugurates $8.3 Billion Plant
Prime Minister Narendra Modi inaugurated HPCL Refinery Rajasthan Limited in the Thar desert of Rajasthan, marking India’s first new crude oil refinery in a decade. The greenfield facility comes with a capacity of 180,000 barrels a day, an annual petrochemical output of 2.4 million tons, and a total construction cost of $8.3 billion, according to Modi. It is expected to be the only new refinery commissioned globally in 2026.
The plant reinforces India’s status as the world’s fourth-largest crude refiner, a position gained even as refining capacity declines in developed markets. Modi highlighted the strategic importance of the expansion, noting that no new refinery has opened in the United States in the past 50 years and European capacity has contracted. The addition of two major refineries, including this one built by state-owned Hindustan Petroleum Corp., has positioned New Delhi to capture market share amid limited new-build activity worldwide.
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@staunovo#India will continue to build new crude oil refineries in order to ensure supply chain security even as Western nations shut processing units, Prime Minister Narendra Modi said. “No new refinery has come up in the US in the last five decad
@hardeepspuriAt a time when very few new refineries are being built around the world and the refining capacity of even developed countries is declining, India is emerging as a global refining hub and is the world’s fourth largest refiner of crude oil wi