Bharat Petroleum Corporation (BPCL) is evaluating the feasibility of establishing a greenfield oil refinery and petrochemical complex near Ramayapatnam Port in Andhra Pradesh.

The proposed unit, estimated to cost around Rs 95,000 crore, is expected to have a refining capacity of 9 million tonne per annum (MTPA), significantly enhancing India’s energy and petrochemical infrastructure. Pre-project activities are already underway as part of BPCL’s long-term expansion strategy.

India, currently consuming 5.5 million barrels of oil per day, is projected to witness an incremental demand of one million barrels daily by 2030, the highest globally. BPCL’s Chairman and Managing Director Sanjay Khanna highlighted that this strategic investment would expand the company’s petrochemical portfolio, provide a natural hedge against petroleum product volatility, and align with India’s ambition of becoming a global refining hub.

BPCL, which has grown from one refinery to three with a combined 40.5 million tonnes capacity, is also pursuing renewables, green hydrogen, biofuels, and gas under its “Project Aspire.” The company targets achieving net-zero emissions by 2040.