Maire Tecnimont has been awarded an Engineering, Procurement, Construction and Commissioning (EPCC) contract by Indian Oil Corporation Ltd (IOCL) for a new polypropylene plant and related facilities in Barauni, Bihar, India. With this deal, Maire Tecnimont Group intends to expand its footprint in India.
Indian Oil will invest 6 billion dollars to establish the 387 TMTPA facility at Indian Oil's Panipat Refinery & Petrochemical Complex in Haryana. The project is part of Indian Oil’s ‘Panipat Refinery Expansion Project’ which also includes the construction of a new 2.5 MMTPA Fluidized Catalytic Cracking Unit.
The Indian Oil Corporation Ltd (IOCL) and Odisha Industrial Infrastructure Development Corporation (IDCO) have signed a MOU to develop the Paradip Plastic Park in Odisha. The Minister for Petroleum and Natural Gas & Steel along with the Chief Minister of Odisha witnessed the signing of the MOU.
Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation agreed to jointly build one of the world's largest integrated Refinery-cum-Petrochemicals complexes in Ratnagiri district of Maharashtra.
Big news for Iranian-Indian refinery project: A refinery in Nagapattinam, Eastern India, co-owned and operated by an Indian Oil subsidiary and Iranian Naftiran, shall be overhauled to produce a variety of high grade fuels.
Hydrocarbons are likely to remain the most important source of energy for decades to come in India, despite other forms of energy such as coal, renewable energy, etc. India is currently the fourth largest consumer of petroleum products in the world in spite of a very low per capita consumption, said Additional Secretary, Ministry of Petroluem & Natural Gas, Ajay Sawhney (IAS) while inaugurating the 20th Refinery Technology Meet at Gandhinagar, Gujarat.
Indian Oil and Oil India (OIL) have signed a Memorandum of Understanding (MoU) with the Russian oil & gas major Rosneft in Moscow for cooperation in geologic survey, exploration and production of hydrocarbons in select onshore assets in the Russian Federation.