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India to expand oil refining capacity to 300 MTPA amid West Asia crisis

Petroleum and Natural Gas Minister Hardeep Singh Puri has said that India is rapidly expanding its refinery capacity. Addressing a press conference in New Delhi on Thursday, Puri informed that in the next six to twelve months the country’s refining capacity will be brought to 300 million metric tonnes per annum. He said that the first Greenfield refinery is being established after a gap of 10 years. Talking about India’s handling of the situation during the West Asia crisis, Mr Puri said that for a long time the government controlled the prices of petrol and diesel and reduced the duties imposed on them. He said that the government always prioritized and focused on the interest of the citizens. The minister said that price of petrol has increased by only 5.58 percent in the last four years, and diesel by 6.23 percent. There has been no increase in the price of fuel for consumers and government’s fiscal system absorbed the hike in crude oil prices.Puri claimed that it is now well established that ethanol is even used in racing cars. Acceleration improves. What is that called? Knocking? Knocking also improves. Mileage? Yes, it may drop a little. But it may drop slightly due to various factors.

He informed that  State-owned oil marketing companies' (OMCs) suffered a total loss of Rs 74,781 crore upto June 30 for selling petrol, diesel, and liquefied petroleum gas (LPG) below cost in the period April-June 2026, amid a spike in global crude oil prices that raised input costs. 


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