India plans to raise refining capacity by 77% by 2030

India’s economic expansion is driving up fuel consumption, with increased energy access for commercial and retail consumers. (Reuters)
Updated 08 February 2018
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India plans to raise refining capacity by 77% by 2030

NEW DELHI: Refiners in India, the world’s third-biggest oil consumer and importer, have drawn up plans to raise their capacity by 77 percent to about 8.8 million barrels per day (bpd) by 2030 to meet the country’s rising fuel demand. India’s refining expansion plan will ensure the nation’s surplus production of diesel and petrol will last until 2035, according to a report by the Ministry of Petroleum and Natural Gas.

India is emerging as one of the key global drivers for refined fuels consumption as its economic expansion and rising industrial activity yields infrastructure improvements and increased energy access for commercial and retail consumers.
If current patterns of use continue, the country’s fuel demand could rise to as much as 335 million tons by 2030, and 472 million tons by 2040, from about 194 million tons last year, the oil ministry’s report said.
On the basis of expansion plans submitted by refiners to the government, petrol production will remain in surplus up to 2035, turning into a deficit in 2040, according to the report.
A spokesman for the oil ministry declined to discuss the report further when contacted by phone. Diesel will remain in surplus until about 2035, beyond which domestic demand will overtake supply, the report said. The report also forecast a growth of 5 percent or more each year in India’s petrol, diesel and jet fuel demand to 2030. The report recommended the refiners set up petrochemical projects and cut production of petcoke and fuel oil.


Saudi Arabia and Spain’s Navantia plan combat management systems venture

Updated 18 February 2019
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Saudi Arabia and Spain’s Navantia plan combat management systems venture

  • The SANNI venture will integrate and adapt Navantia’s combat management systems for Saudi navy corvette ships

ABU DHABI: State-owned Saudi Arabian Military Industries (SAMI) signed an agreement on Monday with Spanish state-held shipbuilder Navantia to set up a joint venture to provide combat systems, the new partnership’s chief executive said on Monday.
The SANNI venture, the name of which stands for SAMI Navantia Naval Industries, will integrate and adapt Navantia’s combat management systems for Saudi navy corvette ships, said Antonio Barberan at the IDEX military exhibition in Abu Dhabi.
SANNI is also in talks with other potential customers in the Middle East, he said.
SAMI owns 51 percent of SANNI, with Navantia holding the remaining 49 percent.
In November SAMI and Navantia signed an agreement to jointly manufacture five corvettes for the Saudi navy.