Sector Snapshot · Petroleum Products

India's Refining Capacity Set to Nearly Double by 2030

A fast-read primer on India's petroleum products and refining sector — the backdrop against which we benchmark every company's cost structure in this category.

258.12 MMTPA

Refining capacity, FY25

65.08 mn tonnes

Petroleum product exports, FY25 (+3.97%)

239.22 MMT

Petroleum consumption, FY25

Global rank as largest crude oil refiner

99,281

Retail fuel outlets across the country

Consumption and Refining Capacity Have Both Grown Steadily

Domestic fuel consumption has grown for a decade, with refining capacity set to nearly double by 2030.

Petroleum Product Consumption (MMT)

FY14 → FY25

158.4 MMT

FY14

239.22 MMT

FY25

Petroleum Product Exports (million tonnes)

FY25 → FY26 (Apr-Feb)

65.08 MT

FY25

56.94 MT

FY26 (Apr-Feb)

What's Pushing the Sector Forward

Refining scale, wide distribution reach, and policy support define the sector.

Refining Scale

4th-largest crude oil refiner globally
Capacity to double to 450-500 MMTPA by 2030

Distribution Reach

99,281 retail outlets nationwide
33%+ of outlets now offer alternate fuels

Policy Support

FDI limit for PSU refining projects raised to 49%

Recent Developments

A sample of the industry-wide and policy moves shaping the sector through early 2026.

→ India's refining capacity increased from 251 MMTPA (FY24) to 258.12 MMTPA (FY25), targeting 450-500 MMTPA by 2030.
→ Petroleum product exports rose 3.97% to 65.08 million tonnes in FY25.
→ Petroleum consumption reached 239.22 MMT in FY25, up from 158.4 MT in FY14.
→ IOCL controls 11 of India's 23 refineries, with a combined capacity of 80.7 MTPA.
→ Reliance's privately-owned refinery held a 26.42% market share as of April 2025.
→ Over 33% of fuel retail outlets now offer alternate fuels, including EV charging.

Companies We Benchmark in This Sector

Listed Indian Petroleum Products companies in tDoBe's cost-benchmarking coverage.

Reliance Industries

IOCL

BPCL

HPCL

MRPL

Castrol India

CPCL

Gulf Oil Lubricants

Savita Oil Technologies

Panama Petrochem

Vedcol Corporation

Gandhar Oil Refinery

Rajasthan Securities

Kotyark Industries

GP Petroleums

Resgen

Sanmit Infra

Arabian Petroleum

See How These Companies Compare on Cost

The numbers above set the stage. Our Report translates it into a company-by-company cost benchmark — down to the category — so you can see exactly where a business sits against its peers.

Explore the Petroleum Products Report

Compiled from public government and industry sources, February 2026 update · Figures rounded · tDoBe sector snapshot, for informational purposes