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Refining and Petrochemicals Technology Meet begins in Odisha capital

Bhubaneswar: 13.01.18:

The 22nd Refining and Petrochemicals Technology Meet was inaugurated by Union Petroleum Minister Dharmendra Pradhan in Odisha capital today.

The three-day meet is being organised by the Centre for High Technology of the Union Ministry of Petroleum and Natural Gas in association with Indian Oil Corporation Ltd (IOCL).

India needs to increase its refining capacity to 600 million metric tonnes (MMT) by 2040 to meet the rising demand for fuel, Pradhan said addressing the meet.

“India’s refining capacity must increase to about 600 million tonnes by 2040, from about 247 million tonnes currently. We have to add 20 million tonnes in every two-three years to achieve the target,” Pradhan said.

“Experts opine that petroleum demand by 2040 will exceed about 600 million metric tonne (MMT). It implies that despite electric vehicles made globally, India needs approximately 250-300 MMT additional refining capacity,” the Minister added.

He informed that about $300 billion would be invested in next 10 years in energy and hydrocarbon sectors.

“India will remain one of the fastest growing energy and petrochemicals market in the world. Hence next generation renewable sources of energy as well as conventional hydrocarbons will play an important role in our energy security objectives,” said the Petroleum Minister.

He said the focus of the union government is moving towards efficient energy production and consumption.

India has decided to meet international best practices by leapfrogging to BS-VI norms by April 2020 in the entire country and by April 2018 in NCT Delhi.

“Our refinery technology has been acknowledged worldwide and is considered as benchmark in the world in most of the performance parameters. Today in the world, Indian refining industry is not confined to transportation fuel and domestic cooking fuel. It is also catering to the petro-chemical needs,” he said.

He added, Petro-chemical creates scope for lots of ancillary industries. “Hence, refining industry plays a major role in Indian economy, energy security, more employment generation, more industries etc.”

The Minister informed that the government has planned to set up West Coast Refinery cum Petrochemical Complex of 60 MMTPA with an estimated investment of Rs 270,000 crore.

Foundation stone for another grass root Refinery cum Petrochemical Complex in Barmer, Rajasthan with an investment of Rs 43,000 crore will be laid by Prime Minister Narendra Modi on 16 January 2018.

The 22nd Refining & Petrochemicals Technology Meet is being organised by the Centre for High Technology (CHT) under the aegis of Ministry of Petroleum & Natural Gas (MoP&NG) in association with the oil and gas companies in India.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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