The board of Hindustan Petroleum Corp (HPCL) cleared a plan to set up a joint venture company with the Rajasthan government to set up a 9 million tonne (mn t) a year refinery in the next four years. The joint venture, in which HPCL will hold 74 percent stake and the Rajasthan government 26 percent, will implement the project at an investment of Rs 37,320 crore. The project involves setting up of an oil refinery and
Tag: refinery
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Phase I of Rs 220 bn refinery project seen in 2014
Minister for Industries of Tamil Nadu government P Thangamani informed the state assembly that the 6 million tonne first phase of the petroleum refinery project by Nagarjuna Oil Corporation would be operationalised by 2014. Nagarjuna Oil Corporation proposed to set up a 12 million tonne a year refinery project in Cuddalore for abou
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IOC searches land for depot project
The Indian Oil Corporation (IOC) is learnt to have sent a team of officials to identify land for the proposed oil depot project in Una district of Himachal Pradesh. The company plans to set up the depot in Una district after the proposed depot project at Kadd village was shelved
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Minister discusses plan to set up pipeline in Kazakhstan
External Affairs Minister Salman Khurshid discussed a proposal of the country to build an oil pipeline in Kazakhstan during a meeting with Kazakh Foreign Minister Erlan Idrissov. According to media reports, the proposed pipeline may have to cover over 930 miles, making it longer than a long-planned pipeline from Turkmenistan
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GIC may run reinsurance fund
Media reports indicate that General Insurance Corporation of India would run a Rs 20 billion fund to support local insurers who cover refineries processing Iranian crude oil. The fund would get an annual contribution of up to Rs 20 billion from Indian insurers and the oil ministry.
The money will come from the premiums normally paid by insurers for reinsurance cover.
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MRPL may procure more oil from Saudi Aramco
Mangalore Refinery and Petrochemicals (MRPL) has is seeking additional 23,000 barrels per day (bpd) of crude oil supply from Saudi Aramco during April in order to compensate for the reduction in import from Iran. MRPL plans to stop oil imports from Iran in April if insurance cover is not available for their refineries. Indian insurance companies said they would not cover refine
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IOC refinery output exceeds target for 2012-13
Refinery output of Indian Oil Corp (IOC) exceeded the target for 2012-13 and its 10 refineries operated at 100.7 per cent of their installed capacity, the firm said in a statement. The refineries processed a total of 54.6 million tonne (mn t) of crude oil compared to the target of 54.25 mn t. Despite planned maintenance shut downs, the company achi
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IOC’s Rs 98 cr project faces roadblock
Indian Oil Corporation (IOC) faces protest from local farmers for its 114-km oil pipeline project being undertaken at a cost of Rs 98 crore from its refinery located at Narimanam to Tiruchy storage point. The pipeline laying project faces protest from farmers of Kakka Kottur, Sorakkudi, Moongilkudi and Omankulam
villages in Tiruvarur district because they fear loss of livelihood owing
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Minister wants India to attain self-sufficiency in fuel by 2030
Union Petroleum Minister Veerappa Moily informed that his vision is to make India self-sufficient in the consumption of petroleum products by 2030. He said there is a need to have patience to research the country's oil reserves. He said this to reporters after laying foundation stone for the transport hub of HPCL in Mangalore. The transport hub facility by HPCL in Mangalore is spread
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RIL eyes $4 billion Iraq oilfield project
India's ` (RIL) is in race along with French energy giant Total, Russia's Lukoil, CNPC of China, American's Brown Energy for a $4 billion project in Iraq. RIL is one of the seven companies shortlisted by Iraq for developing its al-Nassiriya oilfield and construction and operation of a 300,000 barrel per day refine