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Work on to double India's oil refining capacity in next five years Says PM Modi

Work on to double India's oil refining capacity in next five years Says PM Modi

Saturday 21st November 2020

Prime Minister Narendra Modi on Saturday spoke about his government's energy plans at the 8th convocation of Pandit Deendayal Petroleum University, Gandhinagar, Gujarat. He laid the foundation stone of ‘45 MW Production Plant of Monocrystalline Solar PhotoVoltaic Panel’ and ‘Centre of Excellence on Water Technology’. He also inaugurated ‘Innovation and Incubation Centre – Technology Business Incubation’, ‘Translational Research Centre’ and ‘Sports Complex’ at the University.

Addressing the students, the Prime Minister they are entering the industry at a time when due to pandemic, major changes are taking place in the energy sector across the world.

The Prime Minister remarked that in this way, today the energy sector in India has immense potential for growth, entrepreneurship and employment. He announced that today the country is moving forward intending to reduce its carbon footprint by 30-35% and efforts are being made to increase the share of natural gas in the country's energy needs by four times in this decade. "Work is on to double the oil refining capacity in the next five years, Energy security-related startup ecosystem is being strengthened and a fund has been created for students and professionals," the Prime Minister informed...

Modi asked the students to have a purpose in life and stressed that it's not that successful people don't have problems, but the one who accepts challenges, confronts them, defeats them, solves problems, only succeeds. He said the youth of the 1922-47 period sacrificed everything for freedom. He urged the students to live for the country and join the movement of Atmanirbhar Bharat and develop a sense of responsibility.

Modi remarked that the seed of success lies in a sense of responsibility and a sense of responsibility should be turned to the purpose of life. He pointed out that the same people are successful in life, do something by which there is a sense of responsibility in their lives. Those who fail are the ones who live in the sense of burden. He added a sense of responsibility also gives rise to a sense of opportunity in a person's life. He said India is progressing ahead in many sectors and young graduates must march ahead with commitment. He also emphasized on protecting nature and the environment.

The Prime Minister urged the present generation, the youth of the 21st century, to move forward with a clean slate. Clean slate and clean heart mean clear intentions. He remarked that the hopes and expectations of the world are high from India in the 21st century and India's hopes and expectations are associated with the students and professionals.

India plans to nearly double its oil refining capacity in the next five years, Prime Minister Narendra Modi said on Saturday, offering a much more aggressive timeline than previously despite the coronavirus pandemic blighting the economy.

The country's energy minister was quoted in June as saying India's oil refining capacity could jump to 450-500 million tonnes in 10 years from the current level of about 250 million tonnes.

But addressing a petroleum university's convocation, Modi said: "work is being done to nearly double the country's oil refining capacity in the next five years".

The convocation was also addressed virtually by billionaire Mukesh Ambani, whose Reliance Industries Ltd operates the world's biggest oil refinery in Modi's home state of Gujarat.

Modi said India was also aiming to raise the share of natural gas in its energy-consumption mix by up to four times. The cleaner-burning fuel currently accounts for about 6% of the energy consumed in the country.

India would achieve its targets of increasing renewable energy capacity to 175 gigawatts by 2022 and 450 gigawatts by 2030 ahead of schedule, Modi added. The country had a renewable energy capacity of about 75 gigawatts at the end of 2018.

India plans to nearly double its oil refining capacity in the next five years, Prime Minister Narendra Modi said on Saturday, offering a much more aggressive timeline than previously despite the coronavirus pandemic blighting the economy.

The country's energy minister was quoted in June as saying India's oil refining capacity could jump to 450-500 million tonnes in 10 years from the current level of about 250 million tonnes.

But addressing a petroleum university's convocation, Modi said: "work is being done to nearly double the country's oil refining capacity in the next five years".

The convocation was also addressed virtually by billionaire Mukesh Ambani, whose Reliance Industries Ltd operates the world's biggest oil refinery in Modi's home state of Gujarat.

Modi said India was also aiming to raise the share of natural gas in its energy-consumption mix by up to four times. The cleaner-burning fuel currently accounts for about 6% of the energy consumed in the country.

India would achieve its targets of increasing renewable energy capacity to 175 gigawatts by 2022 and 450 gigawatts by 2030 ahead of schedule, Modi added. The country had a renewable energy capacity of about 75 gigawatts at the end of 2018.

 

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