India Oil Corp., the country’s biggest oil refiner, is planning a major though temporary refining capacity reduction this year for maintenance, unnamed sources told Reuters. The reduction totals around 600,000 bpd and most of the maintenance operations will take place over the summer.
IOC will shut down the crude oil refining unit of its 300,000-bpd Panipat refinery for two weeks in July, taking off 150,000 bpd of refining capacity. Another 120,000 bpd in capacity will be shut down for five weeks in July-August at the Barauni refinery, and the 160,000-bpd Mathura refinery will close doors for maintenance for 15 days in August. Towards the end of the year, IOC will also shut down the 150,000-bpd Haldia refinery for about three weeks. Read more