Indian Oil Corporation Ltd (IOCL)., one of the major petrochemicals manufacturers based in India announced its results for the first quarter ended June 30, 2020. Petrochemicals Segment Q1 Results- QoQ The company’s net profit declined 6% to Rs 495.1 crores ($65.9 million) for the period ended June 30, 2020 as against net profit of Rs … Read more
Indian Oil Corp., announced that it will build an integrated para-xylene (PX) and purified terephthalic acid (PTA) complex at Paradip, Odisha, India, with an investment of Rs 138 billion ($1.8 billion). The company expects to bring it online in early 2024. The petrochemicals complex will have a PX production capacity of 800,000 tonnes per year, … Read more
Indian Oil Corporation and Total announced the formation of a 50:50 Joint Venture (JV) company that will manufacture and market high-quality bitumen derivatives and specialty products for the growing road-building industry in India. Total is the leading bitumen manufacturer and supplier in Europe, while Indian Oil is the largest player in the Indian bitumen market. … Read more
Chennai Petroleum Corporation Limited (CPCL) has proposed the implementation of the 9 million tons per annum Refinery Project in Cauvery Basin Refinery (Nagapattinam, Tamil Nadu), to the Board of Indian Oil Corporation Limited (IOCL). To implement this plan, CPCL’s Board of directors proposed a joint venture with IOCL, at an anticipated cost of Rs 28,983 … Read more
Indian Oil Corporation (IndianOil) has re-started several process units at its refineries that were down due to the lockdown. After the lockdown came into force in March, the state-run refiner cut its overall run rate by 30% to adjust operations due to a slump in demand. At some refineries, throughput levels were brought down to … Read more
Linde announced it has leveraged its broad technology portfolio to sign a new contract with India’s largest refiner Indian Oil Corporation Limited (IOCL). Praxair India Private Limited, a wholly owned subsidiary of Linde, will build, own and operate an air separation unit (ASU) to supply oxygen and nitrogen to its incumbent customer, IOCL, for its … Read more
The cost of oil and petrochemicals refinery project to be built jointly by Saudi Aramco and Abu Dhabi National Oil Co. (ADNOC) in India is expected to reach $70 billion, WAM news agency reported on Wednesday. A joint economic council between the United Arab Emirates and Saudi Arabia reviewed the planned plant on Wednesday at … Read more