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Axens selected for Indian refinery expansion project hydrocarbonprocessing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hydrocarbonprocessing.com Daily Mail and Mail on Sunday newspapers.
The sustained strength of marketing margins (MM) and recovering demand for petroleum products is supporting the profitability of India s oil marketing companies (OMC) against weak gross refining margins (GRM). It is lowering downside risks for their credit metrics, Fitch Ratings said. Petroleum product sales for Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) surged by 22%-23% in the third quarter (Q3FY21) from the previous quarter. The recovery of domestic transportation fuel demand to near normal levels, barring aircraft fuel, and MMs on auto fuel at above pre-pandemic levels aided the sales. However, reported GRMs dropped due to lower inventory gains and the improvement in underlying GRMs was limited by weakening product cracks and increasing crude oil prices.
Axens selected for Numaligarh Refinery Expansion Project in India
édité le 16/02/2021 - Plus de news de AXENS - Voir la fiche entreprise de AXENS
Numaligarh Refinery Limited (NRL), a subsidiary of Bharat Petroleum Corporation Limited (a public sector undertaking under the Ministry of Petroleum and Natural Gas, India) has selected Axens to supply advanced technologies in gasoline block for its Numaligarh Refinery Expansion Project (NREP).
Numaligarh refinery is located at Golaghat District in Assam (India) and was commissioned in 2000 with a capacity of 3 million tons-per-annum (MTPA) to process local crude oil Assam.
NRL is now planning to expand the refinery capacity from 3 MTPA to 9 MTPA by implementing in parallel a new refinery of 6 MTPA crude capacity with downstream grassroots facilities at the same location of the existing refinery in Golaghat, Assam.
PM Modi launches various developmental projects in Kochi - Prime Minister Narendra Modi on Sunday launched various development projects in Kochi "to energise the growth trajectory of India".