On October 2, the first in a series of shipments of US crude oil to India arrived at Odisha’s Paradip port. Two more vessels carrying a combined 3 million barrels are set to arrive in November, according to a senior official with Indian Oil Corporation (IOC).
India’s three public sector refineries have put an order of 7.85 million barrel from the US.
On October 2, as the nation celebrated Gandhi Jayanti, a cargo of 1.6 million barrels (about 225,000 tonnes) of US crude oil was received at Paradip port, making it the first import of American oil by India.
Paradip would be developed into a smart port and smart city at an investment of Rs 40,000 crore as part of the Centre’s plan to bring about a speedy development of Odisha, Union minister Nitin Gadkari announced today.
Looking to expand operations beyond its core business, the Paradip Port Trust has taken up a host of infrastructure projects to develop the Odisha port as a smart industrial city.
Gulf Petrochem Group, the UAE based global bunker supplier, has set another milestone in its operations with the successful execution of the first-ever bunker supply by barge at the non-conventional port of Paradip in Odisa, India’s east coast in a joint effort with Indian Oil Corporation Limited (IOCL).
"The Island hosts Ports, three refineries & several petrochemical plants manufacturing entire value chain of products," Pradhan added.
Union Petroleum Minister Dharmendra Pradhan during his Visit to the Jurong island in Singapore on Saturday hinted at the possibility of replicating Singapore’s petrochemical complex at two places in India – in Odisha’s Paradip port and Haryana’s Panipat district. The minister, currently on a visit to Singapore and London, tweeted, “Jurong model is interesting; similar petrochemical complex can be developed in Panipath and Paradip with good planning.”