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India's $20 billion refinery expansion to cut fuel oil output

Indian refiners' expansion plans coincide with changing shipping fuel norms from 2020 requiring the use of low-sulphur fuels

Reuters  |  New Delhi/Singapore 

India may turn into a net importer of fuel oil as its state-owned refiners are making multi-billion dollar investments to upgrade their refineries and produce more profitable refined products such as gasoline or diesel. India has traditionally been a net exporter of fuel oil, the residue oil left after initial crude refining that is typically used in shipping and power generation. That is about to change. Three state-run energy firms — Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum — plan to spend $20 billion on refinery expansions to add units by 2022 ...

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First Published: Fri, October 28 2016. 13:16 IST