Expansion plans of major oil companies to make India a major exporter

India is poised to become a major exporter of petroleum products in the coming years. The country’s major oil companies including Indian Oil Corporation, Bharat Petroleum Corporation Ltd. and Essar Oil Ltd. are all planning to expand their refineries. With the planned expansions, the country’s annual refining capacity would jump from 194 million tons (mt) to 310 mt by 2015 to 2017. (March 8, 2012)