IOC to increase Haldia refinery capacity by 25%

NEW DELHI: State-run Indian Oil Corporation will raise the capacity of its Haldia refinery by 25 per cent to 7.5 million tonnes in one month, its Director (Refineries) B N Bankapur said today.

The company will expand its 12 million tonnes a year Panipat refinery to 15 million tonnes by August, he said.

"We will commission Haldia expansion unit in a month’s time and Panipat by August," he said.

IOC's Haldia refinery currently has a capacity of processing 6 million tonnes a year of crude oil. After the expansion, the unit would produce Euro-III and Euro-IV grade petrol and diesel.

The company operates 10 refineries with a total capacity of over 60 million tonnes a year. Haldia is its only coastal refinery and caters to the demand of eastern India.

Bankapur said the expansion of Panipat refinery, which was originally scheduled for March 2010, has been delayed by 4-5 months.

IOC Chairman Sarthak Behuria said the company may need to import 1.5-2 million tonnes of Euro-III grade diesel this year to meet the rise in demand.

"We estimate a shortfall in diesel production this year," he said.

Besides, IOC would import 2.3-2.4 million tons of LPG and some kerosene this year.

Source : http://economictimes.indiatimes.com/News/News-By-Industry/Energy/Oil-Gas/IOC-to-increase-Haldia-refinery-capacity-by-25/articleshow/5436436.cms