Indian Oil Corporation's Refining Capacity to Surpass 2 Million Barrels per Day by 2023, an Industrial Info Market Brief

Indian Oil Corporation Limited (IOCL), with its nine operational refineries, has 1.39 million barrels per day (BBL/d) of crude oil refining capacity and is expected to increase this by 11,000 BBL/d by the end of 2020. In addition, IOCL plans to increase its refining capacity by 794,000 BBL/d with the commissioning of Barauni, Gujarat, Panipat and CPCL Nagapattinam expansion projects by 2023. IOCL expects to invest $1.3 billion to increase its refining capacity to more than 2.19 million BBL/d by this time.