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India’s refining capacity expansion lags behind growth in fuel demand:
Context:
- The slow-pace growth of India’s refining capacity
What is the current scenario?
- Growth in demand for oil products rising faster than refining capacity added
- There is no major expansion of refinery capacity except few brownfield projects
- India is a net importer of LPG, a fuel used for cooking and heating, and a net exporter of other products such as gasoline, jet fuel, and diesel.
What is the main reason behind the boost of demand for refinery products?
- India’s rising disposable income
What is the speculation?
- It is being speculated that India might be able to export fewer fuels in the next four years as the refining capacity has not been expanded
