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From big plans to bottlenecks: Refining expansion falters, capacity up just 5%; import dependence grows
India’s oil refining capacity has significantly underperformed, growing only 5% against a targeted 69% increase, hampered by climate concerns, land scarcity, and pandemic disruptions. This shortfall has increased reliance on petroleum imports, while exports have declined. Experts suggest a shift towards petrochemical investments due to diminishing global refining growth and net-zero concerns.