India is set to expand its refinery capacity from 256.8 million metric tonnes per annum (MMTPA) in 2024 to 310 MMTPA by 2028, while ethanol blending in petrol is expected to reach 20% in 2025, Petroleum and Natural Gas Minister Hardeep Singh Puri said.
India is set to expand its refinery capacity from 256.8 million metric tonnes per annum (MMTPA) in 2024 to 310 MMTPA by 2028, while ethanol blending in petrol is expected to reach 20% in 2025, Petroleum and Natural Gas Minister Hardeep Singh Puri said. He was addressing the FIPI Oil & Gas Awards 2023 ceremony, which celebrated innovation and leadership across the energy sector.
Highlighting key reforms, Puri said India’s exploration acreage is on track to grow by 16% by 2025, aiming to cover 1 million square kilometers by 2030. He also noted that LPG affordability has been a priority, with PMUY households paying ₹6 per day and non-PMUY households ₹14 per day for cylinder refills.
City gas distribution and start-up growth
City Gas Distribution (CGD) coverage has expanded significantly, from 5.5% in 2014 to a projected 100% by 2024. The minister also highlighted the country’s dynamic start-up ecosystem, with over 1,400 deeptech patents filed in the last five years. India now ranks as the third-largest start-up ecosystem globally, with more than 1 lakh start-ups and nearly 120 unicorns.
Puri announced that the next India Energy Week (IEW) will take place from February 11-14, 2025, at Yashobhoomi, Dwarka, New Delhi. The event is expected to host over 700 exhibitors, 105 conferences, and attract more than 70,000 delegates. In comparison, the 2024 edition featured 600 exhibitors and nearly 100 conferences.
“IEW has become a key global platform for the energy industry, reflecting India’s rapid economic growth and expanding consumer base,” Puri said, urging participants to leverage the event as a step towards creating a greener and more resilient energy ecosystem.
The minister also outlined reforms in the hydrocarbon sector, including the diversification of crude supplies, gas pricing reforms, and the opening of NO-GO areas for exploration. He emphasized the importance of these measures in ensuring a secure and sustainable energy future for the country.
The FIPI Oil & Gas Awards 2023 also recognized excellence in more than 20 categories, including “Digitally Advanced Company of the Year” and “Innovator of the Year,” celebrating contributions across the sector
