BPCL Eyes Greenfield Refinery & Petchem Complex in Andhra

BPCL is currently assessing the feasibility of the project, which would mark a significant addition to its refining infrastructure in the country

- OUR CORRESPONDENT

NEW DELHI: Bharat Petroleum Corporation Ltd (BPCL) is exploring the possibility of setting up a greenfield oil refinery and petrochemical complex near Ramayapatnam Port in Andhra Pradesh, as part of its strategy to expand capacity in response to growing energy demand across India.

The state-owned energy major is currently assessing the feasibility of the project, which would mark a significant addition to its refining infrastructure in the country.

India, the world's third-largest oil-importing and consuming nation, is projected to add 1 million barrels per day of incremental oil demand by 2030 - the highest in the world, said Sanjay Khanna, chairman and managing director of BPCL, at the company's annual shareholder meeting on Monday.

To put things in perspective, the global oil demand is expected to grow by 2.5 million barrels per day by 2030. India currently consumes 5.5 million barrels of oil per day.

"Recognising the strong growth potential of India, BPCL is evaluating setting up a greenfield refinery-cum-petrochemical complex near Ramayapatnam Port in Andhra Pradesh. Pre-project activities are underway," he said.