IOC Gujarat refinery to start operating at expanded capacity by end of FY2027, executive says
IOC Gujarat refinery to start operating at expanded capacity by end of FY2027, executive says By SUMIT KHANNA
VADODARA, India, Sept 30 (Reuters) - Indian Oil IOC.NS expects its flagship refinery in the western state of Gujarat to start operating at an expanded capacity of 18 million metric tons per year by the end of this fiscal year, Executive Director and Gujarat Refinery Head Biplob Biswas said on Wednesday.
The refinery is expanding its capacity from 13.7 million tons per year under the ongoing Petrochemicals and Lube Integration Project (LuPech), which is integrating refining and lube oil base stocks and petrochemicals in Gujarat's Vadodara
Biswas said the refinery currently processes domestic crude from north Gujarat and south Gujarat, and both high and low sulphur imported crude
30% of the crude is sourced from domestic fields, while 70% is imported
"Based on the availability of crude, there are times when Russian crude goes up. We have crude from the Middle East. We are gradually diversifying. We have picked up cargoes from the US in the past as well. Our portfolio is very diversified," he said
The refinery has processed crude from Venezuela too, he added
(Reporting by Sumit Khanna in Vadodara. Editing by Mark Potter)
((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_;))
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