The India Refining Summit 2017 – "Thriving towards creating a Refining Hub” scheduled on December 08, 2017 at Hotel le Meridien, New Delhi, would bring together key players in the oil & gas, refining and petrochemical industries to probe and explores winning strategies and technologies in tackling the challenges of the Indian refining industry.It aims to deliberate on the prerequisites for the Indian Refining Sector to be projected as Hub of Refining. Also, address the issues, the modernization aspect, the approach towards reaching the operational excellence and embracing the newer technologies for excellence.
As per the World Energy Outlook 2011, India currently ranks 4th after US, China and Russia in terms of energy consumption and is likely to become 3rd largest as the hydrocarbon demand is projected to grow at 4 percent over next two decades. The Indian refining capacity has increased from a modest 62 Million Metric Tonnes Per Annum (MMTPA) in 1998 to approximate 235 MMTPA at present, comprising of 23 refineries - 18 under Public Sector, 3 under private sector and 2 in Joint Venture (JV), while the demand is 165 MMTPA. Owing to its strong prowess in downstream sector, India has become a net exporter of finished petroleum products. There is a further plan to add 43% more refining capacity to increase it to 310 MMTPA by 2017. The Indian Government has set ambitious plans and earmarked INR 4.52 trillion under the 12 Five Year Plan for the oil & gas sector which includes INR 2.98 trillion for E& P sector and INR 1.54 trillion for the refining & marketing segments.
On the other hand India’s fuel demand surged for the 13th straight month in November’ 2015—aided by diesel and petrol consumption—and oil-product exports slid, oil ministry data show. It is expected that there will be 3 folds growth in the energy sector by 2040 (A/c to IEA) and similarly, the need of petroleum Products which will reach to 550 MTPA by then. This is indicative of the growing indigenous market apart from the huge export potential of the refined
Lowering the crude oil price globally and deregulation of prices (refined products like diesel and LPG to some extent) is helping private refiners in India to expand their retail operations and sell more fuel through their own outlets. Moreover, with the rest of the industry suffering from lowering crude oil prices, refiner’s revenue is also down. However, their profit margin are high significantly.
Keeping these aspects in mind, the market is captivating an optimistic boost. There are likely investments happening by the private players. India is emerging as the preferential “Refining hub”. However, there stands some critical issues. Many of the refineries in India are age-old and require a lot of investment to maintain efficient operations. It is time to retire some of the refineries and set up news ones with larger capacities. As per Shree Dharmendra Pradhan-OMCs have also been asked to convert all their refineries to meet Euro IV norms by 2017 and carry out the required modifications to meet Euro VI norms by 2020. Also we need to acquire the latest technologies in order to deliver the best.
When8 December 2017 Starting 9:00am
WhereHotel Le Meridien