In FY 2023-24, India’s refineries produced 276.1 million tonnes of fuel, with domestic consumption at 234.3 million tonnes, enabling substantial exports. Credit: noomcpk/Shutterstock.

Indian Oil and gas firm Bharat Petroleum Corporation (BPCL) has chosen Andhra Pradesh as the location for a new oil refinery-cum-petrochemical complex, which may be India’s final greenfield project as the country progresses towards net-zero emissions.

The pre-project activities, including initial studies, land identification and acquisition, and preparation of feasibility reports, are underway.

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BPCL said: “The board accorded its approval to commence pre project activities for setting up of a greenfield refinery cum petrochemical complex in east coast at Andhra Pradesh at an estimated cost of Rs 6,100 crore.”

The company has not disclosed the refinery’s capacity or completion timeline; however, it is expected to have at least a 9 million tonnes (180,000 barrels per day) capacity.

Currently BPCL possesses refineries in Mumbai, Kochi, and Bina with annual capacities of 12 million tonnes, 15.5 million tonnes, and 7.8 million tonnes, respectively. The company had to transfer its Numaligarh refinery to Oil India in a failed privatisation attempt, according to ETEnergyworld.

BPCL is part of a consortium planning a 60 million tonnes per year refinery-petrochemical complex on Maharashtra’s west coast. Conceived six years ago, the project has faced delays due to land acquisition challenges.

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In the fiscal year 2023-24, India’s refineries produced 276.1 million tonnes of fuel, with domestic consumption at 234.3 million tonnes, allowing for significant exports.

The planned expansions and new units are expected to satisfy India’s fuel requirements until at least 2040, during which India will also focus on clean energy projects.

BPCL has committed Rs 1.7 lakh crore to expanding its oil refining and fuel retailing business, as well as investing in new energy ventures.

BPCL chairman and managing director G Krishnakumar said: “To meet the anticipated demand beyond our planned expansions in Bina and Kochi (refineries), we are actively evaluating options for setting up additional integrated refining and petrochemical capacities in the next 5-7 years”.

The company aims to supply 7-10% of India’s primary energy demand by 2047 and achieve net-zero carbon emissions by 2040.

It also plans to invest in renewable power, green hydrogen, and other sustainable technologies, with goals to build significant renewable energy capacity by 2025 and 2035.