Indian Oil Corporation Evolves in Refining Market

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Researched by Industrial Info Resources (Sugar Land, Texas)--Indian Oil Corporation (IOCL) (BSE:530965) (New Delhi) has a combined refining capacity of 1.21 million barrels per day (BBL/d).

IOCL began with the Digboi refinery, commissioned in 1901; today, the company owns and operates 10 refineries in India, including major plants such as the 274,000-BBL/d Gujarat refinery, the 240,000-BBL/d Panipat refinery, the 160,000-BBL/d Mathura refinery, and two refineries operated by subsidiary Chennai Petroleum Corporation Limited: the 190,000-BBL/d Manali refinery and the 20,000-BBL/d Cauvery Basin refinery.

Indian Oil represents 33.8% of India's refining capacity and is performing new projects to expand its capacity. Additionally, it is modifying and adding some units in five of its 10 refineries for petrol quality upgradation. The company is investing $10.8 billion for these projects, which are expected to be completed by 2012.

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