The world is on the cusp of what’s likely to be the last big refining boom as India embarks on a capacity expansion to accommodate the country’s rising thirst for fossil fuels. The South Asian nation has set in motion a building blitz at its oil refineries to raise production of traditional transport fuels such as gasoline and diesel, which could lift capacity by more than 20% over the next five years. Rystad Energy puts the cost of additions at around $60 billion.