Petroleum and petroleum products are the lifeline of the Indian industrial economy. Lube oil blending plants, paraffin wax manufacturing units, bitumen processing plants, specialty grease production lines, all of which are part of the downstream petroleum space, present a variety of viable MSME and mid-scale manufacturing opportunities. But turning a business concept in this field into a financially viable, running plant does take a lot of technical know-how, regulatory clarity and tough financial planning. Which is why, the petroleum and petroleum products industry consultants in India are essential allies of the entrepreneurs, investors and project developers in this industry.<\/p>\n
India is now 3rd largest consumer of oil in the world. The nation’s refining capacity is more than 258 million tonnes per annum (MTPA) and is expected to go up to 310 MTPA by 2030. Nearly 51% of domestic petroleum product use has increased in the past ten years due to the rapid growth in automotive use, expansion of infrastructure and increased industrial activity. The growth path has also opened up a lot of manufacturing opportunities down the road; such as lubricants, waxes, greases, bitumen, base oils, brake fluids and specialty fuel oils, which can be ventured by the MSME entrepreneurs with proper structuring of the project.<\/p>\n
However, there are differences to this industry. The regulatory control of petroleum product manufacturing is under the Ministry of Petroleum & Natural Gas (MoPNG), Petroleum & Natural Gas Regulatory Board (PNGRB)<\/a>, Bureau of Indian Standards (BIS) for the quality of the products, Pollution Control Boards at state level for environmental clearance, and Factories Act. It is a process that requires a highly experienced guide from the outset. A project can either proceed without any major delays in approvals, overruns in capital or is not even ready when the market demands it, or it can be delayed due to an appropriateness of the right consultant.<\/p>\n