Linde India has received a Letter of Acceptance from Indian Oil Corporation (IOCL) to establish an Air Separation Unit (ASU) within the Panipat Refinery Complex. The company intends to finance the capital expenditure using its own funds and internal accruals. “The company has been awarded a ‘Letter of Acceptance’ dated 22 August 2023 by Indian … Read more
McDermott has been awarded a project management consultancy (PMC) and engineering, procurement, and construction management (EPCM) contract for the Naphtha Cracker Expansion (Phase II) polypropylene expansion and new ethylene derivative unit project from Indian Oil Corporation Limited (IOCL). The project is located at the Panipat Refinery and Petrochemical Complex, located 62 miles (100 kilometers) from … Read more
India’s two leading state-owned oil and gas companies, Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC), have entered into a memorandum of understanding (MoU) to jointly explore downstream opportunities in the petrochemical sector. The collaboration aims to leverage the strengths of both companies, including their subsidiaries, through greenfield projects, acquisitions, and global … Read more
McDermott, a global leader in engineering and construction services, has been awarded a significant project management consultancy (PMC) contract by India Oil Corporation Limited (IOCL). The contract entails the development of the Maleic Anhydride (MAH) unit at the Panipat Refinery and Petrochemical Complex, situated approximately 62 miles (100 kilometers) from New Delhi, India. Scope of … Read more
The Indian Oil Corporation (IOCL) has announced plans to set up a petrochemical complex in Paradip, Odisha. This will be the largest-ever investment at a single location by the oil marketing company, with an estimated cost of Rs 610.77 billion. The complex will include a world-scale cracker unit and downstream process units, which will produce … Read more
Ion Exchange (India) has received a Letter of Award from Indian Oil Corporation (IOCL). The award is for the work of Water Treatment Plant for IOCL’s Panipat refinery capacity expansion project (P-25). This includes Reverse Osmosis, Demineralization Plant, Condensate Polishing Unit, Zero Liquid Discharge Plant. The contract also includes Operation and Maintenance for two years … Read more
Chennai Petroleum Corporation (CPCL), Indian Oil Corporation Limited (IOCL) and seed equity partners have signed a Joint Venture Agreement for thé upcoming grass root 9 MMTPA Refinery and Petrochemicals Project at Nagapattinam in Tamilnadu, informed on Friday. IndianOil and CPCL will together hold 50% of Equity Stake (25% each) in the Joint Venture Company (JVC) … Read more
India’s 4 state-owned firms plan to build coal-to-chemical projects as part of the government’s aim of utilizing 100 million tonnes per year of coal for gasification by 2030. Coal India Limited (CIL) will be joining hands with three other major PSUs – Bharat Heavy Electricals Limited (BHEL), Indian Oil Corporation Limited (IOCL) and GAIL (India) … Read more
Air Products announced the signing of a long-term supply agreement with Indian Oil Corporation Limited (IOCL), India’s flagship national oil company. Air Products will build, own and operate (BOO) a new industrial gases complex supplying hydrogen, nitrogen and steam to IOCL’s Barauni Refinery in Bihar, India. The new industrial gas complex will aid IOCL’s capacity … Read more
India’s state-run Indian Oil Corporation (IOC), engineering and construction major Larsen & Toubro (L&T), and renewable energy player ReNew Power have announced a joint venture (JV) company to develop the nascent green hydrogen sector in India. The tripartite venture is a synergistic alliance that brings together the strong credentials of L&T in designing, executing, and … Read more
Indian Oil Corporation Limited (IOCL) has announced plans to build a 60,000 ton per annum (tpa) polybutadiene rubber (PBR) plant at its existing naphtha cracker complex in Panipat. IOCL be investing Rs 14.6 billion ($191 million) in the new facility. The plant will use technology provided by the Goodyear Tire & Rubber Co. The project … Read more
Indian state-cowned refiner IOC’s (Indian Oil Corp.,) board of directors has given stage one approval to build the country’s first styrene monomer (SM) plant at its Panipat refinery and petrochemical complex. The new plant will have a total capacity of 387,000 metric tons per annum. The plant will be built at an estimated cost of … Read more
Maire Tecnimont S.p.A. announced that its subsidiaries Tecnimont S.p.A. and Mumbai-based Tecnimont Private Limited have been awarded an EPCC (Engineering, Procurement, Construction and Commissioning) Lump Sum contract by Indian Oil Corporation Limited (IOCL), for the implementation of a new Para-Xylene (PX) plant and the relevant offsites facilities. The plant will be located in Paradip, in … Read more
Indian Oil Corporation (IOCL) has awarded engineering, procurement, construction and commissioning (EPCC) contract to Technip Energies to upgrade the Barauni Refinery in India. The Barauni refinery is situated on a 3.59 km² site in the Begusarai district of Bihar, approximately 140km away from Patna. IOCL is undertaking BR9 Expansion Project with an investment of $1.9 … Read more
Indian Oil Corporation Limited (IOCL) entered into a Memorandum of Understanding (MOU) with Odisha Industrial Infrastructure Development Corporation (IDCO) to develop Paradip Plastic Park. Under the MoU, to attract investments in downstream polymer industries at Paradip Plastic Park, IOCL announced a Special Strategic Incentives scheme. An incentive of Rs 2000/MT ($27.48/MT) on Polypropylene granules from … Read more
Indian Oil Corporation (IOC) is planning to set up a foodgrain-based, mega scale ethanol production facility each in Indian states of Telangana and Andhra Pradesh with an estimated total investment of ₹1,200 crore ($164.3 million). Spoilt and surplus foodgrain, sourced from the Food Corporation of India (FCI), will serve as feedstock to make ethanol, for … Read more
Indian Oil Corporation Ltd. (IOCL), one of India’s largest petrochemicals manufacturer announced its results for the third quarter ended December 31, 2020. Petrochemicals Segment Q3 Results- QoQ The segment’s profit before taxes (PBT) grew 75.74% to Rs 1,720.96 crores ($235.9 million) for the period ended December 31, 2020 as against PBT of Rs 979.26 crores … Read more
Maire Tecnimont S.p.A has announced that its subsidiary Tecnimont SpA, through its Indian entity Tecnimont Private Limited, has been awarded an EPCC Lump Sum contract by Indian Oil Corporation Limited (IOCL). The said contract is for the implementation of new Acrylic Acid and Butyl Acrylate Units, for the production of relevant high added value products … Read more
Saudi Aramco and Abu Dhabi National Oil Co (Adnoc) are still committed to investing in the planned $44 billion west coast refinery-cum-petrochemical project, the Chairman of India’s Indian Oil Corp (IOC) said on Thursday. Saudi Aramco’s talks to buy a 20% stake in Reliance Industries Ltd’s oil-to-chemical business for $15 billion, coupled with a crash … Read more
Indian Oil Corporation (IOC) will invest Rs 17,825 crore ($2.4 billion) in setting up a petrochemical plant and lube oil base stock (LOBS) integration project at its Gujarat Refinery, and is looking at diversifying into the textile business. In a regulatory filing, IOC said its board at a meeting on September 21 “accorded approval for … Read more