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Petrochemicals add value to IOC refining activities
09 Dec '10
1 min read
Director (Refineries) of Indian Oil Corporation (IOC) – B.N. Bankapur revealed that in order to acquire the maximum competitive benefit, IOC has adopted a business policy that brings in the complete hydrocarbon value chain within its purview by means of business expansion as well as diversification.
He added that the company's involvement into petrochemicals business has been a key factor which has led to its outstanding performance, thereby making it possible for the Corporation to be recognized as 'Energy of India'.
The current upgradation in the refining capacity of the Panipat refinery and the integration of refining operations with that of petrochemicals have added further value to the refining activities. The Naphtha Cracker at Panipat, by procuring additional naphtha from Panipat, Gujarat and Mathura refineries, is expected to manufacture 800,000 tons of ethylene and 600,000 tons of propylene per annum, which will nurture the downstream polymer plants.
In the coming future, the assimilation of new facilities in the already prevailing refineries as well as the proposals for processing the refining operations are likely to be controlled by economies of scale and incorporation of petrochemicals to increase the profitability.
He added that the company's involvement into petrochemicals business has been a key factor which has led to its outstanding performance, thereby making it possible for the Corporation to be recognized as 'Energy of India'.
The current upgradation in the refining capacity of the Panipat refinery and the integration of refining operations with that of petrochemicals have added further value to the refining activities. The Naphtha Cracker at Panipat, by procuring additional naphtha from Panipat, Gujarat and Mathura refineries, is expected to manufacture 800,000 tons of ethylene and 600,000 tons of propylene per annum, which will nurture the downstream polymer plants.
In the coming future, the assimilation of new facilities in the already prevailing refineries as well as the proposals for processing the refining operations are likely to be controlled by economies of scale and incorporation of petrochemicals to increase the profitability.
Fibre2fashion News Desk - India
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