Oil refiners to invest US$35 bin into petrochemicals to meet an expected surge in demand

摘要

Oil refiners Indian Oil Corp (IOCL), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), are planning a US$35 bin impetus into petrochemicals to meet an expected surge in demand for goods as per Reuters. The drive comes as the government seeks to promote durable, cheaper materials in industries such as farming and food packaging, while refiners eye long-term threats to their business from renewable energy and a shift to electric vehicles.