BPCL projects India's fuel demand to grow by 4-5% annually, prompting major expansions in refining and petrochemical capacities.
Fuel demand in the world’s third-largest crude oil importer, India , is set to rise by between 4% and 5% per year for the “foreseeable” future, G. Krishnakumar, chairman of India ’s state-controlled refiner Bharat Petroleum Corporation Ltd
’s shareholders, as carried by Reuters. To meet growing demand for refined oil products and petrochemicals, many Indian refiners plan to expand their crude processing capacities and ethylene cracker units at refineries. In is in talks with major local banks to secure a loan of about $3.8 billion which it will use to expand the capacity of one of its refineries, Bloomberg reported earlier on Friday, quoting sources with knowledge of the discussions.
Fuel Demand BPCL Refinery Expansion Petrochemicals Crude Oil Growth Ethylene Cracker Refining Capacity Energy Consumption
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