India’s petroleum exports create history! Country selling petrol and diesel to the world by buying foreign oil, mega boost of Rs 75,000 crore in refining capacity

India is highly dependent on imports of crude oil and gas for its energy needs. India buys about 80 to 85 percent of its total requirement of crude oil from foreign countries, on which huge amount of foreign exchange is spent every year. But you will be very proud to know that India, which buys crude oil from abroad, has achieved a big and historic success in the world on the petroleum export front.

India imports crude oil from abroad, but also exports it in large quantities to many big countries of the world by processing it in the country’s modern refineries and making petrol, diesel, ATF (air fuel) and other valuable petroleum products.

India dominates the export of petroleum refiner products, creates a new record

Today, India has established tremendous dominance as an exporter of petroleum refinery products in the global market. According to official data of the last financial year, India recorded 46.8 billion dollars Petroleum products have been exported. Commodity experts claim that in the coming days, a further bumper increase of up to 25 percent can be recorded in India’s total exports.

India’s global refining power is growing at a superfast pace due to the speed with which the country’s largest state-run oil company Indian Oil Corporation Limited (IOCL) is expanding the capacity of its various refineries. At present, India’s total refining capacity is around 258.1 million tonnes, while the country’s total internal consumption of petroleum products is around 239 million tonnes.

Mega budget of ₹75,000 crore: IOCL is increasing its strength

Efforts are being made on a war footing by the Government of India to increase the refining capacity of the country. Several new refining units of IOCL are scheduled to be fully operational by December 2026. After the grounding of this mega project, the total refining capacity of IOCL will take a huge leap from 80.75 million metric tonnes per annum (MMTPA) to 98.05 MMTPA Will reach all-time record level.

Indian Oil Corporation for this ambitious capacity expansion project Rs 75,000 crore A huge budget of Rs 53,500 crore has been allocated, out of which an amount of more than Rs 53,500 crore has been successfully spent so far.

There will be 3 times increase in revenue from exports, work will be accelerated in Panipat and Vadodara.

Government oil companies will first use this new and modern capacity to meet the needs of the domestic market 100%. The surplus capacity left after this will be aggressively used for international export of petrol and other petroleum products. According to experts, with this step the share of petroleum exports in the company’s total revenue will directly increase three times from the current 5%. beyond 15% could reach.

At present, the company is in the final stages of upgrading its capacity at Panipat in Haryana, Vadodara in Gujarat and Barauni Refinery in Bihar.

Know by how much the capacity of which refinery will increase?

The complete mathematics of capacity expansion in the three major refineries of the country is as follows:

After this spectacular capacity expansion, India will not only make its domestic energy security completely self-reliant and strong, but will also emerge on the world map as a major global petroleum hub, which will bring billions of dollars of foreign exchange into the country’s treasury.