An Analysis of Energy Efficiency of Petroleum Refineries: A Case from India

Energy is one of the key resources for a country's economic growth and development. In the recent past, India has emerged as one of the largest and rapidly developing economy. This rapid growth has further increased the importance of efficient use of energy. In this context, energy intensity of various industries comes under special focus. This paper makes an attempt to analyze the energy intensity of the Indian oil refining companies, who are themselves engaged in the production of one of the most important energy source, i.e. petroleum. The study looks into the level of energy intensity and the factors that influence it for a select set of Indian oil refining companies. The study is based on data from the PROWESS database for the period 2010 to 2016. The study suggests that the level of energy efficiency as measured by energy intensity has deteriorated and is significantly influenced by the factors such as labor intensity, raw material intensity and plant and machinery intensity.