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According to WoodMackenzie, by 2035, India will account for a third of global demand growth, a surge of 3.5 million bpd. Although, Aramco will build a 1.2 million bpd refinery in Mumbai, but according to WoodMac it won’t be sufficient. The survey hints that it could lead to gas imports from Europe and US. Research director said that the need of new refineries depends on oil demand growth and private refiners.
