A refinery complex in Mumbai
Indian oil companies advance refining agenda
The country’s refinery sector continues to grow, but remains largely state-controlled
India’s state-backed oil companies are making some progress with the country’s plans to expand its refining capacity, their latest quarterly results reveal. But privatisation efforts do not appear to have progressed, and upstream activity remains relatively muted. Indian Oil Corporation (IOC) is continuing its programme of refinery capacity expansions, with three projects underway, as well as building and upgrading various petrochemical and other units at its facilities. IOC is in the process of adding 17.3mn t/yr of refining capacity, with capacity at the Panipat refinery set to increase to 25mn t/yr from 15mn t/yr, at the Gujarat to 18mn t/yr from 13.7mn t/yr and at the Barauni refinery to
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
