Will EVs scup­per mega oil re­fin­ery ex­pan­sion plans?

The Hindu Business Line - - FRONT PAGE - P MANOJ

An am­bi­tious pro­jec­tion by a gov­ern­ment panel on elec­tric ve­hi­cles over the next decade has made the oil re­fin­ing in­dus­try, which has lined up bil­lions of dol­lars to ex­pand ca­pac­ity, jit­tery.

From a pal­try 0.02 per cent share in the trans­port sec­tor in FY15, EVs are pro­jected to reach 25 per cent by 2025 and 40 per cent by 2030, a work­ing group man­dated by the Pe­tro­leum Min­istry con­cluded in a 2018 re­port after eval­u­at­ing var­i­ous sce­nar­ios, ac­cord­ing to Vi­jay Sharma, Di­rec­tor (Re­fin­ery) in the Min­istry.

On cur­rent trends, the re­port said In­dia will re­quire 472 mt of petro prod­ucts by 2040. A tran­si­tion to EVs and re­new­ables will cut the re­quire­ment to 387 mt. But large-scale de­ploy­ment of EVs and re­new­ables will see the re­quire­ment dip dras­ti­cally to 266 mt. This is ex­pected to have a bear­ing on In­dia’s re­fin­ing ca­pac­ity ex­pan­sion plans.

“We have to take a call by 2020 on whether the planned re­fin­ery ex­pan­sions will be re­quired or not,” said Sharma. De­tails

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.