Bharat Petroleum Corporation Ltd (BPCL) has announced plans to set up a greenfield oil refinery and petrochemical (petchem) complex in Andhra Pradesh, marking a major step in India’s energy sector. The project, estimated at Rs 61 billion, is expected to be the last of its kind in the country. BPCL's board has approved the initiation of pre-project activities for this refinery, which include land acquisition, feasibility studies, environmental impact assessments, and basic design engineering. While BPCL has not disclosed a timeline for completion, the refinery is projected to have a capacity of at least 9 million tonnes per year (180,000 barrels per day). As India’s third-largest oil refiner, BPCL currently operates refineries in Mumbai (12 million tonnes/year), Kochi (15.5 million tonnes/year), and Bina (7.8 million tonnes/year). This new venture follows the company’s loss of the Numaligarh refinery in Assam during a failed privatization attempt. BPCL is also part of a consortium planning a 60-million-tonne refinery-cum-petrochemical complex in Maharashtra, which has faced delays due to land acquisition challenges. With India’s oil demand growing at 4-5% annually, BPCL’s new refinery is expected to support the country’s fuel needs until at least 2040. The project aligns with India’s broader energy transition plans, including a focus on clean energy and the adoption of electric vehicles (EVs). BPCL has committed Rs 1.7 trillion in investments for expanding its oil refining and fuel retailing businesses, as well as for new energy ventures. BPCL is on track to meet 7-10% of India’s primary energy demand by 2047, aiming for net-zero carbon emissions by 2040. As part of this effort, BPCL is investing in renewable energy, green hydrogen, compressed biogas, and carbon capture technologies, with ambitious goals for renewable energy capacity in the coming years. (MINT)