Indian Oil is a mammath in the oil and gas sector in India, straddling 11 refineries with a total capacity to process 80.7 million metric tonnes per annum (MMTPA) of petroleum products. It’s forays upstream and downstream have now given the mega corporation (FY17 revenue Rs 4,45,372.91 crore) an arm rest across the oil and gas value chain, from exploration and production for oil and gas, to refining and marketing petroleum products and lubricants (POL), to petrochemicals and lately, renewable energy resources.
Chennai Petroleum Corporation Ltd (CPCL), a group company of Indian Oil, has achieved highest throughput of 10.256 MMTPA during 2016-17, besides reaching the highest ever distillate yield, a top company official said today.
Hindustan Petroleum Corporation Ltd (HPCL) and Government of Rajasthan have signed a revised memorandum of understanding (MOU) for HPCL’s proposed 9 million metric tonnes per annum (MMTPA) grass root refinery in the state, paving the way for the resumption of project, which was first announced four years ago.
Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of ONGC, is embarking on a fourth phase expansion involving a massive investment of R24,000 crore.
Nigeria is one of the largest trading partners of India in Africa which is dominated by import of crude oil and gas from Nigeria. In 2015-16, India imported nearly 23.7 MMT of crude (nearly 12% of India overall imports) and over 2 MMTPA of LNG from Nigeria.
The Minister of State (I/C) for Petroleum & Natural Gas, Shri Dharmendra Pradhan met his Nigerian counterpart Dr. Emmanuel Ibe Kachikwu, Minister of State for Petroleum in New Delhi today. Dr Kachikwu is on a three days official visit to India.