India’s state-held oil refiners are planning to spend as much as US$27 billion (2 trillion Indian rupees) on raising the country’s refining capacity, junior oil minister Rameswar Teli told Parliament on Wednesday. India, the world’s third-largest crude oil importer, hopes to lift its refining capacity by 20 percent by 2025 over its current refining capacity of around 5 million barrels per day (bpd). “The refining industry has been modernized and upgraded continuously with the indigenous and imported technologies for refining…
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