“I see a lot of scope of a ‘Houston’ or `Aberdeen’ being created in India itself on the back of growth in its energy sector in coming years” : IOC Chairman and Managing Director, B Ashok

"A large part of our Rs 1,80,000 crore investment has already factored this brownfield expansion investment plans. But going further forward, there is also scope for green field refineries to be set up in India as well. We are playing the lead role in setting up a very large refinery in the west coast of India and likely in Maharashtra. We are looking at a 60 million tonnes per annum or the largest refinery in the world."

“I see a lot of scope of a ‘Houston’ or `Aberdeen’ being created in India itself on the back of growth in its energy sector in coming years” : IOC Chairman and Managing Director, B Ashok

“At Indian Oil, we have committed investments worth Rs 1,80,000 crores in the next 5-6 years. This in itself is going to drive a lot of growth in the whole economy. This will also create opportunities for many other companies who will be involved in building this infrastructure thereby offering direct and indirect investment and job opportunities within and to companies across the globe. From that perspective, a number of public and private sector industries are going to be involved in the growth story of Indian Oil. Here the Make in India concept has got a lot of linkage.”

Ahead of PM Modi’s visit, Indian refiners clear part of $6.4 bn dues to Iran

Ahead of PM Modi’s visit, Indian refiners clear part of $6.4 bn dues to Iran

Ahead of Prime Minister Narendra Modi’s maiden visit to Iran, Indian refiners have made first euro payments in four years to clear a part of the USD 6.4-billion in past oil dues. Mangalore Refinery and Petrochemicals Ltd (MRPL) has paid USD 500 million and Indian Oil Corp (IOC) USD 250 million over the past two […]

IOC investing Rs 45K crore to expand refining capacity to meet demand

IOC investing Rs 45K crore to expand refining capacity to meet demand

Refining giant Indian Oil Corp (IOC) is preparing for a future when batteries will increasingly replace car fuel tanks but for the moment is investing Rs 45,000 crore to expand its refining capacity to meet the rapidly rising fuel consumption in the country. Read More…

India takes a giant stride towards becoming a refining hub

Plans to build one of the world’s largest oil refinery in Maharashtra

India takes a giant stride towards becoming a refining hub

India is all set to emerge as a major refining hub in the entire South East Asian region. In one of the biggest investments of over Rs 1.5 lakh crore (close to $22 billion), plans are afoot to build one of the world’s largest refinery— a 60 million tonnes per annum (or 1.2 million barrels […]