India poised to refine for world as global capacity declines: Union Minister Hardeep Puri

India is poised to strengthen its position as a global refining hub, with its oil processing capacity set to rise to 300 million tonnes annually by 2030 even as Europe and other parts of the Western world see refinery capacity decline, Union Minister Hardeep Singh Puri said on Tuesday (October 27, 2026).

India's refining capacity is currently around 290 million tonnes per annum and is expected to expand further by scaling up existing facilities and adding new projects, the Union Petroleum Minister said at a news conference on the sidelines of the 29th Energy Technology and Innovation Meet in south Goa.

He said the expansion will allow India not only to meet its domestic energy requirements but also to supply more petroleum products to international markets. "With refining capacity increasing in a big way, we will be in the happy situation of not only refining for ourselves, but for the world," Mr. Puri added.

He contrasted India's expanding refining infrastructure with the decline in global capacity, particularly in Europe, where he estimated that at least 2,50,000 barrels per day of refining capacity was being lost annually.

"Others are going down. Ours is going up," the minister said, pointing to the expansion of Indian refineries at a time when smaller and less efficient facilities in other markets are struggling with logistical costs and operational inefficiencies.

Mr. Puri said India's refining capacity would reach 300 million tonnes per annum by 2030, though the projection may not include all new greenfield refineries in the pipeline.

He said several existing refineries are expanding capacity, with facilities of three million tonnes per annum scaling up to six million tonnes and those with six million tonnes expanding to nine million tonnes.

The Minister also cited the expansion plans of individual refiners to underline India's ability to increase supplies of petroleum products, including diesel, to both domestic and overseas markets.

Responding to questions on whether India would need to restrict exports to ensure domestic availability, Mr. Puri said the country's expanding production capacity would enable it to cater to both markets. "We are in a position to supply more to domestic and more to outside," he said.

Mr. Puri said Indian refiners had been planning capacity and production increases even when domestic diesel consumption growth was subdued, allowing the industry to prepare for higher output as demand patterns evolve.

He also pointed to the absence of new greenfield refineries in the Western world in recent decades, contrasting it with India's continued investments in refining infrastructure.

The Minister said the government's policy direction and the expansion of India's energy sector would further strengthen the country's position in global markets. "Beyond conventional petroleum products, initiatives such as Samudra Manthan and GOBARdhan (Galvanising Organic Bio-Agro Resources Dhan) are also expected to gain momentum, he said, adding that these developments would complement the country's expanding energy infrastructure.