IOC shuts half of Panipat refinery: Exec

IOC shuts half of Panipat refinery: Exec

New Delhi: State-run Indian Oil Corp shut a 120,000 barrel per day (bpd) crude unit at its northern India refinery late on Sunday for 45 days to boost capacity 25%, its head of refineries B.N. Bankapur said on Monday.

“As planned, in October we will run the refinery at 15 million tonnes a year (300,000 bpd)," Bankapur told Reuters.

A company source said the firm would shut a 1.7 million tonnes a year hydrocracker and a 2.4 million tonnes a year delayed coker unit at the Panipat refinery for a revamp for 45 days.

The source said the hydrocraker would be shut from Tuesday while the delayed coker unit would be shut a few days later.

During the shutdown, the company will raise the annual capacity of the hydrocracker to 1.9 million tonnes and of the delayed coker unit to 3 million tonnes.

“During the 45 days shutdown capacity of the two secondary units will be raised to match the new capacity of the crude unit," the company source said.

Panipat is IOC’s biggest refinery with annual capacity of 240,000 bpd.