November 28, 2018

India Refinery Project Investment Update - 2018

Stratas Advisors

There are three announced grassroots refinery projects in India. About $77 billion USD refinery investment is expected in India for next seven years.  About 2.6 million bpd of CDU capacity will be added in addition to 3.1 million bpd of secondary processing capacity. The secondary processing capacity includes reformer/alkylate (20%), conversion (37%) and hydrotreating (42%). Indian refineries are using imported crude for processing, mainly from the Middle East, US and Africa.

The information in the table below includes the India’s annual addition of capacity and respective investments.

Units | MBPD

Year

CDU

Light Oil Processing Unit

Conversion Unit

Hydroprocessing Unit

Investment
($ billion)

2019

160

131

70

199

4.2

2020

321

82

192

236

7.0

2021

180

14

125

115

4.3

2022

265

28

99

196

9.1

2023

0

0

0

0

0

2024

0

0

0

0

0

2025

1630

367

658

547

52.7

The information in tables below include India’s major announced grassroots refinery investment projects.

Units | MBPD

Company

Location

Capacity

Expected Completion

Probability

Babulwadi Refinery and Petrochemical

Babulwadi, Ratnagiri

1200

2025

High

Nagarjuna Oil Corp Ltd

Cuddalore

120

2025

Low

Barmer Refinery and Petrochemical

Barmer District

180

2022

High

The information in tables below include India’s major announced refinery investment projects.

Units | MBPD

Region

Country

Company

Location

Capacity

Expected Completion

Probability

Project type

Asia

India

Indian Oil Co. Ltd. (Bongaigaon Refinery)

Guwahati

47 to

54

2020

High

Expansion

Asia

India

Hindustan Petroleum Corp. Ltd.

Mumbai

130 to 190

2020

High

Expansion

Asia

India

Hindustan Petroleum Corp. Ltd.

Visakhapatnam

166 to 300

2020

High

Expansion

Asia

India

Indian Oil Co. Ltd.

Barauni

120 to 180

2021

Medium

Expansion

Asia

India

Numaligarh Refinery Ltd.

Numaligarh

60 to

180

2021

Medium

Expansion

Asia

India

Indian Oil Co. Ltd.

Panipat

300 to 500

2025

Medium

Expansion

Asia

India

Indian Oil Co. Ltd.

Koyali

275 to 360

2022

High

Expansion

Asia

India

Indian Oil Co. Ltd.

Paradip

300 to 400

2025

Medium

Expansion

Asia

India

Indian Oil Co. Ltd.

Haldia

150 to 160

2025

Medium

Optimization

Asia

India

Bharat Petroleum Corp. Ltd.

Ambalamugal / Kochi

190 to 310

2020

High

Expansion

Asia

India

Chennai Petroleum Corp. Ltd.

Chennai, Manali

20 to

180

2019

High

Expansion

The allowed sulfur content in the gasoline pool is 50 ppm in 2018 for India; however; from 2020 onward this limit is reduced to 10 ppm. India biodiesel blending in gas oil pool is 5.4 Mbpd (0.1% v/v) in 2018, increasing to 13.7 Mbpd (0.2% v/v) in 2035.
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