India shaping up as refining hub, to rely on fossil fuels until 2040, oil minister says
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 12 2024
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Source: Reuters
India's Oil Dependency: India is expected to continue relying on fossil fuels until at least 2040 while aiming to become a regional refining hub, with plans to increase its refining capacity by 81% from current levels.
Renewable Energy Goals: Despite being the third-largest emitter of greenhouse gases, India has set a target for net zero carbon emissions by 2070 and aims for 500 GW of renewable energy by 2030.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
