Abstract
India will remain a net oil importer in the foreseeable future and any additional refining capacity will run essentially on imported crudes. However, self-sufficiency in infigenous refining capability would not necessarily be the least-cost option. Demand for refined products in India, their prices in the international market and quality of crude oils available for import are among the major factors that will influence refinery investment decisions. It may be worthwhile negotiating a suitable petroleum products procurement contract with product-surplus nations in the region. Negotiating such a contract may be easier if oil demand management measures are also implemented successfully.
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