IOC surpassed Reliance to be India's biggest refiner

IOC becomes No 1 refiner; beats RIL


Government-owned IndianOil (IOC) has surpassed Reliance Industries to regain its position as nation's biggest refiner after it completed expansion of its Panipat unit.



"We have this week completed expansion of our Panipat refinery (in Haryana) to 15 million tonnes (from 12 million tonnes)," IOC director (refineries) B N Bankapur said on Thursday.



Before the expansion, IOC's eight refineries had a total crude oil refining capacity of 51.2 million tonnes a year and together with its subsidiary Chennai Petroleum (CPCL), it had a combined refining capacity of 62.7 million tonnes.



After Panipat expansion, IOC group's refining capacity has increased to 65.7 million tonnes, ahead of 62 million tonnes of refining capacity that Reliance Industries has at Jamnagar in Gujarat.



IOC was the largest oil refiner in the country before Reliance started its 29 million tonnes a year only-forexports unit adjacent to its 33 million tonnes a year plant at Jamnagar. "This year have raised Haldia refinery capacity by 1.5 million tonnes to 7.5 million tonnes," Bankapur said. IOC is mulling raising the capacity of its Koyali refinery in Gujarat to 16 or 18 million tonnes a year from current 13.7 million tonnes a year.


The Financial Chronicle, New Delhi, November 12, 2010