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IOC to relook at refinery units shutdown

IOC to relook at refinery units shutdown
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First Published: Mon, Mar 21 2011. 11 23 AM IST
Updated: Mon, Mar 21 2011. 11 23 AM IST
New Delhi: State-run Indian Oil Corp (IOC) may consider deferring shutdowns of units at some of its refineries to meet local fuel demand, its head of refinery B. N. Bankapur said on Monday.
“If situation continues like this, when Indian fuel demand is rising at a fast pace and so are international fuel prices, being the largest state-run oil marketing firm we may have a re-look at our shutdown plans,” B. N. Bankapur told Reuters.
Indian refiners are struggling to get a good response to their diesel import tenders as traders target more lucrative sales to quake-hit Japan. Lack of participation by traders led to IOC skipping award of its diesel tender.
“I am a state-run firm, I have to run for the country,” Bankapur added.
IOC plans to shut a hydrocracker and some other units at its biggest Panipat refinery in May for routine maintenance.
IOC is India’s biggest refiner with a capacity to process 1.294 million bpd oil.
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First Published: Mon, Mar 21 2011. 11 23 AM IST
More Topics: IOC | Refinery | Fuel | Oil | Cude |