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Indian Oil intends to complete growth of Panipat, Gujarat, Barauni refineries by Dec 2025

Indian Oil Corp anticipates to complete expansion of its refineries in Panipat, Gujarat and Barauni by December of next year, stated sources knowledgeable about the information on Tuesday.

We see all three refinery growths converging by December 2025, among the source said, adding that the crisis in Ukraine and COVID pandemic were primary reasons for the delays. India's top refiner was broadening the capacity of its Barauni refinery in the state of Bihar from 6.0 million tonnes per annum to 9 million tonnes at an approximated expense 160 billion rupees ($ 1.90 billion) and there is a 10% expense overrun, the sources included.

The state-run refiner is broadening the Panipat Refinery from 15 MMTPA to 25 MMTPA and the Gujarat Refinery from 13.7 MMTPA to 18 MMTPA together with its integration to lube and petrochemical production systems.

The refinery expansions come as India

goals

to raise its refinery capability to as much as 450 MTPA, from about 249 MTPA, or about 5 million barrels per day (bpd),. presently.

The Gujarat refinery growth was initially scheduled for. conclusion by mid-2024, while the Panipat growth has also. been delayed by over a year.

IOC in 2015

approved

the cost increase in the Panipat refinery growth to. about 362.25 billion rupees from the initial strategy of about 330. billion rupees.

The refiner plans to shut down its hydrocracker and some. secondary units at the Gujarat refinery for revamp by this. fiscal year-end, and the gasoline-making unit at the Barauni. refinery by the irst to 2nd quarter of the next fiscal year,. sources said.

(source: Reuters)