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Bloomberg Quint
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BPCL Chooses Andhra Pradesh For New Rs 6,100-Crore Refinery With Net-Zero Plan
- State-owned Bharat Petroleum Corporation Ltd. has picked Andhra Pradesh for setting up a new oil refinery-cum-petrochemical complex.
- The refinery could be at least 9 million tonnes (180,000 barrels per day) capacity.
- The planned unit in Andhra Pradesh is being touted as India's last greenfield refinery project.
- India has a refining capacity of 256.8 million tonnes and publicly announced plans for expanding current units.
- India's nearly two dozen refineries produced 276.1 million tonnes of fuel in 2023-24 fiscal while domestic consumption was 234.3 million tonnes.
- BPCL has lined up Rs 1.7 lakh crore of investment for expanding its core oil refining and fuel retailing business as well as in new energy ventures.
- It aims to meet 7-10% of India's primary energy demand by 2047 alongside targeting net-zero carbon emissions by 2040.
- BPCL is investing Rs 1 lakh crore in renewable power, green hydrogen, compressed biogas, energy efficiency, and carbon offsets.
- The company has set aggressive targets to build 2 GW of renewable energy capacity by 2025 and 10 GW by 2035.
- India has set 2070 as the target date to achieve net zero carbon emissions.
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