Indian Oil to spend Rs4,000 crore on Paradip refinery upgrade
Paradip,India: Indian Oil Corp. aims to invest Rs.4,000 crore in upgrading its newest refinery in the eastern part of the country after the central government decided to bring forward by four years the introduction of road vehicle fuels which are compliant with Euro VI emission standards to April 2020, a senior company executive said on Sunday.
The 300,000 barrels per day refinery, which was commissioned last year, was designed to produce Euro IV and Euro V-compliant fuels. But the government’s decision to bring forward the introduction of Euro VI fuels to combat rising pollution in Asia’s third-largest economy requires installation of some new units and upgrades of existing ones.
The World Health Organisation (WHO) in 2014 said that 13 of the world’s 20 most polluted cities were in India, with New Delhi being the worst.
IOC needs to add facilities like Isomerisation, Diesel Hydrotreater and a Hydrogen units to produce Euro VI compliant fuels at the Paradip refinery in Odisha, G.S. Singh, executive director for technical operations at the refinery, told reporters on a plant visit.
Read full article: Live Mint
Jet fuel or ATF price was cut on Tuesday by a marginal 1.2 per cent, the third reduction in as Read more
SINGAPORE: Gold slipped on Monday, tracking lower oil prices, but failed to get safe-haven bids despite weakness in the dollar and Read more
The government has further relaxed rules for the sale of natural gas produced from small and isolated fields by waiving Read more
The Ministry of Petroleum and Natural Gas has launched an online initiative to seek suggestions from Liquefied Petroleum Gas (LPG) Read more
