Page 2 - Refinery

Reliance Industries to temporarily shut some Jamnagar units for maintenance

The conglomerate owned by billionaire Mukesh Ambani is the operator of the world's biggest refining complex which houses two plants with a combined capacity of about 1.4 million barrels per day

NRL records highest profit after tax since inception at Rs 3,703 crore

The Numaligarh Refinery Limited (NRL) has registered the highest-ever Profit After Tax (PAT) since its inception at Rs 3,703 crore as compared to Rs 3,562 crore registered in the last fiscal, chairman R Rath said on Saturday. In a first, the refinery was also able to achieve capacity utilisation of more than 100 per cent, processing 3,091 TMT of crude oil since its inception, Rath said at the post-AGM press conference after virtually addressing NRL's 30th Annual General Meeting. The refinery also achieved the highest-ever distillate yield of 87.7 per cent and best-ever specific energy consumption (SEC) of 61.7 MBN, he said. The company also recorded the highest-ever revenue from operations during the year at Rs 29,786 crore as compared to Rs 23,547 crore the previous year, he pointed out. The earning per share (EPS) of the company also saw a surge to Rs 25.17 as compared to Rs 24.21 in 2021-22 while the net worth increased to Rs 11,427 crore as on March 31, 2023 as against Rs 8,388

Need to step up refining capacity: Anand Mahindra on lithium reserve in Raj

Leading industrialist Anand Mahindra on Tuesday hailed the discovery of lithium reserves in Rajasthan and called for quickly stepping up to install refining capacity of the crucial mineral in the country. In a tweet, he noted that China already has a lead when it comes to refining capacity. "Finally. We have sizeable reserves of a natural resource critical for growth in the 21st century. A signal that India has an 'electrifying future.' But the key element in the supply chain is refining, not reserves, where China has a huge lead. We need to step up quickly to install that capacity," Mahindra tweeted. According to various reports, the Geological Survey of India (GSI) has found another reserve of lithium in Degana in Rajasthan's Nagaur district. Lithium is primarily used to produce rechargeable batteries, especially those used in electric vehicles and portable electronic devices, among others. Earlier, lithium reserves were also found in Jammu and Kashmir.

Take refinery to Gujarat, bring good projects from there to Maha: Uddhav

Shiv Sena (UBT) chief Uddhav Thackeray on Saturday said the proposed oil refinery in Barsu in coastal Ratnagiri district should be moved to Gujarat and good investment projects from the neighbouring state be brought to Maharashtra. Interacting with villagers at Barsu, Thackeray said the government should hold a dialogue with locals before coming up with any project. A section of locals is opposing the refinery on the grounds that it will adversely affect the fragile biodiversity of the coastal Konkan region and also hit their livelihood. The Vedanta-Foxconn and Tata-Airbus are gone. Take this project to Gujarat and get good projects back to Maharashtra, Thackeray said. Thackeray said when he was the chief minister, similar protests had taken place while building the Samruddhi highway. But we struck a dialogue with protesters. We worked out a way without hampering development, Thackeray said. Earlier, Thackeray had planned to hold a rally in Barsu-Solgaon area earlier but was denie

Won't proceed with Barsu refinery project without locals' consent: Shinde

Maharashtra Chief Minister Eknath Shinde on Friday said the proposed refinery project at Barsu village in Ratnagiri district will not be implemented without the local people's consent, and appealed for calm in the area. Earlier in the day, police used tear gas in Barsu and Solgaon villages in Rajapur tehsil to disperse the protesters who are opposing the refinery, and detained Shiv Sena (UBT) MP Vinayak Raut. "A former chief minister himself had suggested the Barsu site to the Union government. After losing the CM's post, he is opposing the project. One can not have such double standards," Shinde told reporters in Mumbai, apparently referring to Shiv Sena (UBT) leader Uddhav Thackeray whose party is now backing the section of villagers opposing the refinery. "We are a people's government and we are not against them. We will not proceed without the local people's consent,' the chief minister added. Shinde also claimed that more than 70 percent of locals support the project as it wil

Bharat Petroleum gets MP state government approval for refinery expansion

Bharat Petroleum will invest 430 billion rupees ($5.27 billion) to 500 billion rupees for the two projects, adding that the petrochemical project would start production by fiscal year 2027-28

TotalEnergies shuts France's largest refinery over wage demand strikes

French multinational energy and petroleum company TotalEnergies has started to shut down the country's largest refinery in the Normandy region as a result of a strike over wage demands

Indian refiner Nayara Energy appoints Prasad K Panicker as chairman

Despite a challenging external environment, Nayara Energy said it has developed an articulated strategy for a phased expansion into petrochemicals

India's core sector output expands at six-month high of 8.4% in April

The output of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity had expanded by 4.9 per cent in March 2022.

BPCL delays 25-day crude unit maintenance shutdown to May: Report

BPCL has deferred a maintenance shutdown of a crude unit at a 240,000 barrels per day Mumbai refinery to May as its seeks to gain from strong fuel cracks

India's refinery throughput stays firm with strong recovery in sight

Crude oil throughput in January was however down 0.5% year-on-year to 5.13 mn barrels per day (21.71 mn tonnes), govt data showed.

Rajasthan CM Gehlot seeks Centre's help for Barmer refinery project

Gehlot also thanked the Centre for giving approval to open a millet research centre in Barmer

NRL's capacity expansion cost escalates by Rs 5,432 crore

Numaligarh Refinery Ltd (NRL) on Wednesday said the cost of its capacity expansion project has escalated by Rs 5,432 crore to Rs 28,026 crore due to adoption of advanced technology. In an official release, the largest PSU refiner in the northeast said the Union Ministry of Petroleum & Natural Gas has already approved the revised project cost for increasing capacity from 3 million metric tonnes per annum to 9 MMTPA. "With adoption of state-of-the-art technology in this configuration and addition of extremely complex schemes like residue hydrocracking, the refinery will be able to process heavier crude oil and maximize production of distillates. "This adoption of technology led to an increase in the project cost from Rs 22,594 crore to Rs 28,026 crore," it added. The initial planned configuration of the upcoming 6-MMTPA unit has been improved to make it petrochemical ready, focusing on upgradation of refinery residue by using new technology, NRL said. "In the intervening period ...

Godavari Biorefineries files paperwork with Sebi for an IPO

The IPO comprises fresh issuance of equity shares worth Rs 370 crore and an offer of sale (OFS) of 65,58,278 equity shares by promoters and investors, the draft red herring prospectus (DRHP) showed.

Covid-19: BPCL to supply medical oxygen to Kerala from Kochi Refinery

State-owned Bharat Petroleum Corporation Ltd (BPCL) on Thursday said it will supply medical oxygen to Kerala from its Kochi Refinery to meet shortage of the same for critical patients of COVID-19.

BPCL plans to restart 200,000 bpd Kochi refinery unit by end-July

The shutdown of the crude unit and some secondary units at Kochi started earlier this month

India's natural gas output falls 18.6% in April due to Covid-19 lockdown

India's crude oil production fell 6.35 per cent to 2.5 million tonnes in April for the same reason

Vedanta to ramp up production in Odisha's Lanjigarh alumina refinery

Total alumina production in FY20 seen at 1.8 million tonne from 1.5 million tonne in the previous fiscal

IOC reports 47% drop in Q1 net profit after refinery margins slump

IOC reported a consolidated net profit of Rs 3,737.50 crore, or Rs 4.07 per share in April-June quarter this year, as compared to a net profit of Rs 7,092.42 crore, or Rs 7.48 a share, a year ago

NRL to use IOCL's crude oil handling facility at Paradip Port for expansion

Numaligarh Refinery is planning to expand the capacity of its refinery from 3 MMTPA to 9 MMTPA