India expanding oil refining capacity to 300 MMTPA amid global uncertainty: Hardeep Puri
New Delhi, Aug 21 (IANS) Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said on Friday that as global refining capacity faces uncertainty, India is expanding its position as the world’s third-largest refiner, with capacity rising from 272 MMTPA towards 300 MMTPA (million metric tonnes per annum).
He said the India-Mauritius energy partnership reflects our shared commitment to predictability, stability and mutual prosperity.
“The agreement signed on Thursday marks a landmark in the bilateral energy relationship and yet another expression of the enduring friendship between India and Mauritius, one that will continue to grow for generations,” the minister noted.
“These G2G and B2B agreements mark a new chapter in India-Mauritius energy cooperation, providing Mauritius with stable, reliable energy supplies and positioning IndianOil as a trusted anchor supplier for the next three years,” the minister highlighted in a post on X.
As a founding member of the Global Biofuels Alliance, Mauritius’ new National Biofuel Policy Framework, developed with the GBA support, also opens the way for deeper cooperation in clean and sustainable fuels, beyond crude and refined products, he said.
The minister underlined that India has emerged as one of the world’s foremost refining hubs, with 23 refineries processing nearly 270 million metric tonnes annually.
“As a net exporter of refined petroleum products, India sees this capacity not merely as an asset, but as a responsibility to be a dependable, transparent and stable energy partner for friends across the world, particularly in the Indo-Pacific. That’s the leadership of Prime Minister Narendra Modi which the world admires and respects,” Puri said.
India and Mauritius on Thursday signed a landmark Memorandum of Understanding (MoU) on cooperation in the oil and gas sector, alongside a five-year agreement between IndianOil and the State Trading Corporation (STC) of Mauritius for assured supply of petroleum products to the island nation.
Puri signed the MoU with Mauritius Minister of Commerce and Consumer Protection John Michael Tzoun Sao Yeung Sik Yuen, as India and Mauritius moved to further strengthen bilateral energy cooperation.
Under the five-year agreement, IndianOil will supply petrol, diesel, marine gas oil and Aviation Turbine Fuel (ATF) to Mauritius, providing long-term supply certainty, greater price stability and enhanced energy security.
Puri said the agreement would support Mauritius’ mobility, connectivity and economic growth and described it as a new milestone in the enduring India-Mauritius partnership.
“Building on an energy partnership that goes back to 2001, when IndianOil began serving Mauritius through IndianOil Mauritius Limited, this milestone reflects India’s reliability and commitment as a trusted energy partner,” he said.
“India remains committed to supporting Mauritius’ long-term energy security and strengthening our enduring cooperation,” the minister added.
–IANS
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