Page 8 - Oil Refinery

Indian Oil Corporation sets up new unit for treasury operations

India's top refiner Indian Oil Corp has set up a subsidiary to pool the funds of its overseas units in order to meet capital and trade finance needs, it said in a statement on Thursday

No decision taken on oil refinery plant location in Maharashtra, says Puri

Petroleum Minister Hardeep Singh Puri on Saturday said the Centre has not taken any decision to set up an oil refinery project in any specific area in Maharashtra. Speaking to reporters in Chandrapur, he said the state government will have to discuss the project's location with the Central government. He alleged the erstwhile government (in Maharashtra) had allocated land for the project but later refused under the pretext of changing the location, which derailed the project. "Following this, the state (Maharashtra) and the country faced huge economic losses in the last two-and-a-half years," Puri alleged. Puri was apparently referring to the Ratnagiri Refinery and Petrochemical project, proposed to be built at Nanar village in Ratnagiri district in coastal Konkan, but it was scrapped before the 2019 polls at the insistence of Shiv Sena, the then alliance partner of BJP. Establishing a 60-million metric tonne per annum oil refinery will be the biggest plant in the world, Puri ...

Nayara Energy plans to shut its Vadinar refinery for maintenance from Nov 1

Indian refiner Nayara Energy, partly owned by Russian energy giant Rosneft, plans to fully shut its 400,000 barrels per day Vadinar refinery for about a month from November for routine maintenance

Centre aims to boost refining capacity as fuel demand continues to rise

The oil ministry has been asked by the government to prepare a report on the country's future fuel demand and refining capacity needs

Top refiner Indian Oil Corp to spend $25 bn for 2046 net-zero goal

The company plans to invest more than $25 billion to achieve net-zero emissions from its operations by 2046, its chairman SM Vaidya said at an annual shareholders meeting

Chennai refinery's crude runs cut by 25% as residents complain of odour

Chennai Petroleum Corp said it had cut crude processing by a quarter at its 201,000 barrels per day Manali refinery, following an order by the Tamil Nadu state pollution control board

Limited refining capacity to keep margins high: Reliance Industries

RIL did point to these recessionary fears at its investor call, saying it remained a challenge for oil companies

Nuberg Engineering to build Rs 650 cr SRU project at IOCL's Koyali refinery

Last year IOC had signed an MoU with Gujarat for adding petrochemical and lube plants to its previously announced plans to expand crude oil processing capacity at the refinery

IOC to invest Rs 740 crore to raise Digboi refinery capacity in Assam

In a stock exchange filing, IOC said its board has approved raising of Digboi refinery capacity from 0.65 million tonnes per annum to 1 million tonnes

Biden tells oil refiners to produce more gas, criticises profiteering

Your companies need to work with my Administration to bring forward concrete, near-term solutions that address the crisis, wrote Biden to oil refiners

Pvt refiners profit from cheap Russian crude, state refiners suffer: Report

While many Western buyers are avoiding Russian crude in response to its invasion of Ukraine, Indian private refiners such as Reliance and Nayara have been among the biggest buyers this year

How Reliance refinery is making millions as Ukraine war windfall

The facility is buying discounted cargoes of crude after self-sanctions on Russian fuels by some European Union companies pushed up margins.

Over 100 people killed in explosion at Nigerian illegal oil refinery

More than 100 people have been killed following an explosion at an illegal oil refinery in Nigeria's southern state of Imo, official and local sources said.

Indian Oil Corp buys 4 million bbls of crude via tenders: Report

Indian Oil Corp, the country's top refiner, has purchased a total of 4 million barrels of crude via tenders for May and June loading, traders said on Wednesday.

Saudi Arabian oil refinery in Riyadh attacked by drone, sparking small fire

An oil refinery in Saudi Arabia's capital, Riyadh, was attacked by drone, causing a small fire that did not cause injuries or affect supplies, the energy ministry said Friday. The statement did not specify where the drone strike was launched from. There was no immediate claim of responsibility. The kingdom's oil facilities have been a target of Yemen's Houthi rebels in the past. The Iranian-backed Houthis claimed responsibility for a shocking attack in 2019 at the Abqaiq oil processing facility in Eastern Province, which temporarily knocked out half the kingdom's daily production. The ministry statement, published by the state-run Saudi Press Agency, was released shortly after midnight Friday and said the attack took place around 4:40 a.m. on Thursday. The ministry said such attacks not only target Saudi Arabia, but also the security and stability of energy supply to the world. Saudi Arabia has been involved in Yemen's civil war since 2015, fighting against the Houthis who overran

Explosion in Turkey shuts down key pipeline carrying oil from Iraq

An explosion has shut down a pipeline in southeastern Turkey that carries oil from Iraq to world markets, officials and news reports said.

Mathura Refinery gets environmental clearance for expansion project

Mathura Refinery has processing capacity of 8 mmtpa, at present

Sri Lanka shuts only oil refinery for 50 days amid severe dollar crisis

Sri Lanka on Monday temporarily shut down its only oil refinery for 50 days following the non availability of crude oil supplies due to the ongoing severe foreign exchange crisis in the country.

Fire erupts at Kuwait's major oil refinery; no casualties reported

A fire erupted on Monday at a major oil refinery in Kuwait, the state-owned oil company said, reporting no immediate casualties

IOC, CPCL start working on Rs 31,580-cr refinery project at Nagapattinam

While both the companies will hold 25 per cent each in the proposed 9 million tonne per annum (MTPA) refinery, the remaining 50 per cent will be held by a strategic or financial partner