IOC targets to replace fossil fuels with green hydrogen for decarbonization drive

Indian Oil Corporation (IOC) is targeting to replace at least a tenth of its current fossil-fuel-based hydrogen at its refineries with carbon-free green hydrogen as part of a decarbonization drive. The nation’s largest oil firm is setting up green hydrogen plants at its Panipat and Mathura refineries, IOC said in its latest annual report. The

IOC to invest $9.35 mn to raise Digboi refinery capacity

State-owned Indian Oil Corporation (IOC) will invest over $9.35 mn (Rs 740 crore) to raise the capacity of the nation’s oldest oil refinery at Digboi in Assam. IOC said its board has approved raising of Digboi refinery capacity from 0.65 million tonnes per annum to 1 million tonnes along with associated facilities at an estimated

Higher energy costs of Indian ethanol makers will be borne by oil retailers

The state fuel retailers in India are ready to offer monetary relief to sugar mills and other producers of ethanol to compensate for high energy costs. The objective behind this step from oil companies is to boost biofuel production. The Indian government fixes the ethanol purchase prices for fuel retailers – Indian Oil Corp, Bharat

Rosneft holds back on signing extra oil deals with India

According to the sources, Russia’s Rosneft is not ready to sign new crude oil deals with two Indian state refiners, as it has committed sales to other customers. Indian refiners have been snapping up cheap Russian oil, shunned by western companies and countries since sanctions were imposed against Moscow for its invasion of Ukraine on

OMCs sign tripartite agreement for dedicated ethanol plants

Oil marketing companies including Bharat Petroleum Corporation Limited, Indian Oil Corporation Ltd and Hindustan Petroleum Corporation Limited have entered into a long upcoming dedicated ethanol plants across India, the government said in a press release. As per the agreement, ethanol produced by these dedicated ethanol plants shall be sold to OMCs for blending with petrol

IOC introduces methanol-blended petrol M15

Indian Oil Corp (IOC) rolled out M15 petrol with a 15% blend of methanol over petrol on a pilot basis in Assam’s Tinsukia district. In the presence of Niti Aayog member VK Saraswat and IOC chairman SM Vaidya, Union Minister of State for Petroleum and Natural Gas Rameswar Teli on Saturday launched the M15 petrol.

IOC, L&T, and ReNew form JV for green hydrogen

Indian Oil Corporation (IOC), Larsen & Toubro (L&T), and ReNew Power have formed a joint venture (JV) company to develop the nascent green hydrogen sector in India. Additionally, IndianOil and L&T have signed a binding term sheet to form a JV with equity participation to manufacture and sell electrolyzers used in the production of green

State-run refineries in India operate at full capacity in March

The country’s biggest state-run refiner in terms of capacity, IOC, and fellow refiner MRPL’s 300,000 b/d Mangalore refinery were operating at 100% or higher than their nameplate capacities. The two refiners have deferred some upcoming maintenance shutdowns because of current strong refining margins. BPCL’s 310,000 b/d Kochi, 240,000 b/d Mumbai and 156,000 b/d Bina refineries

IOC buys Russian Urals crude from Vitol

Indian Oil Corp, the country’s top refiner, bought 3 million barrels of Russian Urals from trader Vitol for May delivery, trade sources said, its first purchase of the grade since Russia invaded Ukraine on Feb. 24. Western sanctions against Russia have led many companies and countries to shun its oil, depressing Russian crude to record

Indian refiners planning to ramp up ethanol storage

The state-run fuel retailers in India are considering increasing ethanol storage capacity by 51 per cent, as the country is targeting to double the biofuel’s blending with gasoline to 20 per cent by 2025 according to a director at Indian Oil Corp refinery. India is one of the largest importers of oil which relies on