Indian Oil Corporation to commission new refinery

New Delhi: The Indian Oil Corporation (IOC) will begin commissioning of its Rs 34,500 crore Paradip refinery from the first quarter of 2015. “Once fully operational, this 15 million tonnes flagship refinery will further strengthen Indian Oil’s position as India’s premier refiner and also add substantially to our bottom line,” said Sanjiv Singh, director (Refin-eries), Indian Oil.

He said that all teams of Indian Oil are geared up for realising the successful commissioning of this project which will enable the company to process the most difficult and ch-eap crudes, resulting in higher profitability. Mr Singh said that in line with the auto fuel policy, Indian Oil refine-ries will switch to 100 per cent BS-IV fuels production to meet timelines.
He called for serious efforts to ensure that future projects in refineries produce 100 per cent BS-V compliant auto fu-els to meet the changing fuel norms.

Mr Singh said that outages due to interruptions should be absolutely zero.“In deregulated market, reliability in supplying the products in right qua-ntity and of right quality, as committed is absolutely essential. For improving reliability, we need to identify the weak spots and take corrective acti-ons to eliminate the sa-me. Root causes of failures need to be analysed and actions should be taken for recurrence of such failures,” he added.