Mumbai, January 25 : In alignment with India’s vision of good governance and the “Developed India Initiative,” Union Minister of Petroleum and Natural Gas Hardeep Singh Puri announced a strategic revamp of the Ratnagiri refinery project in Maharashtra. Originally conceived as a massive 60 million tonnes per annum (MMTPA) refinery, the project will now be scaled down to three smaller refineries with capacities of 20 MMTPA each, located at different sites.
Speaking on the matter, Puri emphasized the impracticality of building a single refinery of such a large scale, stating, “Globally, there isn’t enough experience to construct and operate a refinery of 60 MMTPA. We are exploring a more feasible model with three smaller refineries to ensure operational efficiency, environmental sustainability, and better integration with the hinterland and ports.”
The Minister highlighted that discussions are ongoing between the promoters—BPCL, HPCL, and IOC—and international energy giants Saudi Aramco and Adnoc. While the specific locations of the refineries are yet to be finalized, Puri reassured that India’s refining capacity is set to expand significantly, from the current 270 MMTPA to 310 MMTPA, with potential plans to surpass 400 MMTPA in the future.
The recalibration of the Ratnagiri project aligns with India’s strategic push to reduce its reliance on oil imports and achieve energy security. Maharashtra’s ruling MahaYuti coalition, led by Ajit Pawar, has backed the move, emphasizing the importance of consulting local communities to ensure smooth project implementation.
The Minister also announced plans for India Energy Week (IEW) 2025, which will take place from February 11-14 in Delhi. The event aims to position India as a global leader in energy transitions, showcasing initiatives like the Pradhan Mantri Ujjwala Yojana (PMUY) as a model for addressing energy access challenges.
IEW 2025 will feature expanded exhibition spaces, over 105 conference sessions, and participation from more than 70,000 global delegates, including 20+ Foreign Energy Ministers and 90 CEOs from Fortune 500 companies. Themes such as clean energy, hydrogen, renewables, and digital advancements will take center stage, reinforcing India’s leadership in driving sustainable and innovative energy solutions.
“Through initiatives like the revamped Ratnagiri project and platforms like IEW 2025, India is set to play a pivotal role in shaping the global energy landscape while ensuring equitable and sustainable growth domestically,” Puri concluded.
This strategic pivot not only underscores India’s commitment to good governance but also strengthens its resolve to lead the world in clean, affordable, and accessible energy solutions.
( With inputs from IANS)
