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Indian Oil says Iran has not ruled out participating in Chennai Petroleum expansion

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - India's biggest refiner Indian Oil Corp Ltd said on Wednesday that Iran has not ruled out participating in a refinery expansion project at an Indian Oil subsidiary.Indian Oil's chairman Sanjiv Singh said that Iran had not said no to participating in the expansion of Chennai Petroleum Corp Ltd, a south India-based 20,000 barrels per day refinery.Iran's participation has been questioned after India cut down its Iranian crude oil imports following U.S. sanctions.Chennai Petroleum plans to invest over $5 billion for modernisation and expansion.Naftiran Intertrade, the Swiss ...

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First Published: Wed, January 02 2019. 10:52 IST