India Refining Summit meets robust demand for petrochemicals

India Refining Summit, a platform dedicated to the petrochemicals sector and a key influencer of India’s economic growth, united a hundred industry leaders and representatives of the ministry of petroleum and natural gas in New Delhi, in person, 26-27 March.

India is burnishing its credentials as a global hub for the refining and petrochemicals industry and Messe Frankfurt India organised the two–day event at the hotel Le Meridien, the fifth edition of the summit. Topics under discussion included infrastructure, alternative fuel options, net zero carbon technologies and acceptance of digitalisation.

The conference was inaugurated by Shri Tarun Kapoor, IAS, Secretary, Ministry of Petroleum and Natural Gas (MoPNG). He said in his address: “With the right capabilities, technical knowledge, manpower and infrastructure like ports, pipelines and product transportation facilities, India has the potential to become a global hub for refining and the petrochemicals industry. But with prices of crude oil constantly fluctuating in the market, storage is also an important element and as the sector moves forward, we should be able to create more storage within the country.”

The petrochemicals sector is growing one and a half times the rate of GDP, Nafta, LPG and jet fuels accounting for the maximum growth rate all through to 2040.