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India to double oil refining capacity in five years: PM
Why is it in news?
- While addressing a petroleum university’s convocation, Prime Minister said India plans to almost double its oil refining capacity in the next five years.
Key points of PM's address:
- India’s oil refining capacity could jump to 450-500 million tonnes in 10 years from the current level of about 250 million tonnes.
- Work is being done to nearly double the country’s oil refining capacity in the next five years.
- India was also aiming to raise the share of natural gas in its energy-consumption mix by up to four times.
- The cleaner fuel 'natural gas' currently accounts for about 6% of the energy consumed in the country.
- India would achieve its target of increasing renewable energy capacity to 175 gigawatts by 2022, and 450 gigawatts by 2030, ahead of schedule.
- The country had renewable energy capacity of about 75 gigawatts at the end of 2018.