Business News | Innovation, Startups Key to Next Phase of India's Refining Sector: HPCL CMD Vikas Kaushal
Get latest articles and stories on Business at LatestLY. Innovation, digital technologies and collaboration with startups will be critical to strengthening India's refining sector amid supply disruptions and the expansion of refining capacity, Hindustan Petroleum Corporation Ltd (HPCL) Chairman and Managing Director Vikas Kaushal said on Wednesday.
New Delhi [India], October 28 (ANI): Innovation, digital technologies and collaboration with startups will be critical to strengthening India's refining sector amid supply disruptions and the expansion of refining capacity, Hindustan Petroleum Corporation Ltd (HPCL) Chairman and Managing Director Vikas Kaushal said on Wednesday.
In an exclusive conversation with ANI, on the sidelines of the 29th Energy Technology Meet (ETM) 2026, Kaushal said the event had expanded its scope to include emerging areas such as compressed biogas (CBG) and platforms supporting startups and innovation.
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ETM, a recognised platform for India's downstream oil industry, brings together industry participants to discuss technology and exchange ideas. Kaushal said the expanded event provides opportunities for collaboration and helps accelerate initiatives such as the Govardhan scheme and MC Square, an innovation platform.
He said MC Square was mentoring around 43-45 participants in its cohort, with several startups showcasing solutions at the event.
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On the refining sector, Kaushal said India was building on its existing strengths but needed to integrate innovation into its operations to address emerging challenges.
“Supply challenges and all have forced or made the need for innovation even more starker for us,” he said, adding that digital-based startups working with data differently could help shape the sector's next phase of development.
Kaushal expressed confidence in India's refining capabilities, noting that Indian-trained professionals also operate refineries in regions such as the Middle East and Africa.
Highlighting HPCL's performance, he said the company had commissioned a residue upgradation facility at its Visakhapatnam refinery at the beginning of the year. The facility enables deep conversion of the bottom of the barrel into diesel and other light distillates, with a conversion rate of 93%.
He described it as one of the most complex technologies in deep conversion and said HPCL was working to optimise the unit's operations.
Kaushal also highlighted the commissioning of India's latest greenfield refinery by HPCL during the year. The refinery was inaugurated by Prime Minister Narendra Modi on July 4 and has a complexity index of around 17, which he said was the second-highest after Reliance Industries.
Describing the year as significant for both HPCL and India's refining industry, Kaushal said technology and innovation would be important as the sector expands its capabilities and responds to changing supply conditions. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)