Indian Oil Corporation Explores Turkish Refinery and Fuel Markets In Europe

BANGALORE--June 16, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--A consortium led by IOC-Calik, a joint venture between Indian Oil Corporation Limited (IOC) (BOM:500312) (New Delhi) and Calik Energy (Ankara, Turkey), plans to develop a 15 million-ton-per-year (300,000 barrels per day) greenfield refinery and petrochemical complex at the port city of Ceyhan in south Turkey, with an investment of about $10 billion. The pre-feasibility report for the project has been submitted, and the refinery is scheduled to be commissioned by 2012.

Other companies featured: Eni S.p.A. (NYSE:E), Petkim Petrokimya Holdings AS (ISE:PETKM), Oil and Natural Gas Corporation Limited (BOM:500312), Chevron (NYSE:CVX), ExxonMobil (NYSE:XOM), Reliance Industries Limited (BOM:RELI)