IOC plans to process 55 MT of crude in 2015-16

MUMBAI (Reuters) - Indian Oil Corp (IOC), the country's biggest refiner, plans to process 55 million tonnes (MT), or about 1.1 million barrels per day (bpd), of crude in the fiscal year that began on Wednesday, a senior official said.

The state-run company, which runs eight refineries across India, achieved a refinery throughput of 53.61 MT in 2014-2015 with a capacity utilisation of 98.9 percent, said Sanjiv Singh, the company's head of refineries.

IOC, which together with subsidiary Chennai Petroleum Corp controls about a third of India's refining capacity, plans to commission a 300,000-bpd refinery in Odisha this year.

(Reporting by Aman Shah in Mumbai; Editing by Subhranshu Sahu)