<p>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 <a href="https://www.deccanherald.com/coronavirus-live-news-covid-19-latest-updates.html" target="_blank">coronavirus</a> pandemic blighting the economy.</p>.<p>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.</p>.<p>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".</p>.<p>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.</p>.<p>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.</p>.<p>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. </p>
<p>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 <a href="https://www.deccanherald.com/coronavirus-live-news-covid-19-latest-updates.html" target="_blank">coronavirus</a> pandemic blighting the economy.</p>.<p>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.</p>.<p>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".</p>.<p>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.</p>.<p>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.</p>.<p>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. </p>