In 2023, India's oil refinery capacity stood at 5.25 million barrels per day. The year-on-year variation over the last two years was +2.47% in 2022 and +2.06% in 2023, indicating a steady upwards trajectory. Over the previous five years, the Compound Annual Growth Rate (CAGR) was 1.09%. Projections suggest this trend will continue, with a forecast CAGR of 1.48% over the next five years, leading to an expected 2028 capacity of 5.76 million barrels per day, a 7.64% increase from 2023.

Future Trends to Watch For:

Emerging policies on renewable energy and their impact on refining capacity.
Investment trends in refinery infrastructure and technological advancements.
Global oil market fluctuations and their influence on domestic refinery operations.
Developments in alternative fuels and how they may affect long-term capacity planning.