IOCL's Paradip refinery aims 100% output even after Iran oil waiver ends

Company foresees no problem on availability of crude, will get it from other suppliers; Paradip refinery currently imports from US, Nigeria, UAE, Saudi and Iran

Oil marketing major Indian Oil Corporation Ltd (IOCL)  aims to achieve 100 per cent capacity utilisation of its 15-million-tonne-per-annum (mtpa) Paradip refinery in 2019-20 even if US ends the waiver of oil import from Iran.

"We have the closed the last fiscal with 14.6 million tonne capacity utilisation. Paradip refinery is equipped to process different types of crude. We will achieve more than 100 per cent of the capacity at the refinery during FY20," said senior official of IOCL.

IOCL's 15 mtpa coastal refinery at Paradip is spread over 3,345 acres, built with an estimated cost of Rs 34,555 crore.