Indian Oil Corporation to Expand Pipeline Network

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Researched by Industrial Info Resources India (Delhi, India)--India's largest downstream petroleum company, Indian Oil Corporation Limited (IOCL) (BSE:530965) (New Delhi) is planning to expand its pipeline network significantly over the next three years. The company has a pipeline of about 11,000 kilometers and is planning to expand it to 15,000 kilometers by 2015 at an approximate expenditure of $1.5 billion. Currently, IOCL is executing the Paradip-Durgapur Haldia pipeline, the Paradip-Raipur-Ranchi product pipeline, Viramgam Kandla pipeline; and the Paradip South Jetty pipeline.

IOCL is expanding the network to ship crude to the refineries and refined products to the market. Better pipeline connections will improve refinery margins and increase the market competitiveness of the company. Pipeline transportation of petroleum products is one of the safest and most cost-effective methods of transportation, as it is much less expensive than rail transport.

Indian Oil is India's flagship oil company, with business interests straddling the entire hydrocarbon value chain--from refining, pipeline transportation and marketing of petroleum products to exploration and production of crude oil and gas and the marketing of natural gas and petrochemicals. The company owns and operates 10 of India's 20 refineries and has a combined refining capacity of approximately 1.3 million barrels per day.

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