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China overtakes US as world s largest refiner
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China overtakes US as world s largest refiner
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State-owned Indian Oil Corporation is set to invest $4.46 billion to enhance the capacity of its refinery in Haryana s Panipat by two-third quantum to 5,00,000 barrels per day (bpd) from the present 3,00,000 bpd by September 2024, reports
Economic Times.
Along with the expansion of the refining capacity, IOC will also be setting up catalytic dewaxing and polypropylene units at the facility to boost the production of value-added speciality products as it looks to improve margins and de-risk the conventional fuel business.
Earlier in 2018, IOC announced capacity expansion of the 300,000 bpd Panipat refinery costing Rs 231 billion.
Meanwhile, Union Oil Minister Dharmendra Pradhan has also sought 175 acres of land in West Bengal for expanding IOC s 1,60,000 bpd Haldia refinery in a bid to meet the nation s surging energy demand.
Petrol price crosses Rs 100-mark: PM Modi blames previous govts for not cutting import dependence
Addressing an online event to inaugurate oil and gas projects in poll-bound Tamil Nadu, Prime Minister Narendra Modi said, I do not want to criticise anyone but I want to say [that] had we focused on this subject much earlier, our middle-class would not be burdened.
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UPDATED: February 18, 2021 08:44 IST
Prime Minister Narendra Modi addressed an online event to inaugurate oil and gas projects in poll-bound Tamil Nadu. (Photo: PTI)
On a day when petrol crossed the Rs 100 mark, Prime Minister Narendra Modi on Wednesday blamed the previous governments for not focussing on reducing India s energy import dependence.
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