Rajasthan will host India’s first greenfield refinery

With ownership holdings of 74% and 26%, respectively, the state-run Hindustan Petroleum Corporation Ltd. (HPCL) and the Rajasthani government jointly own the refinery, which is built to process more than 83% of imported medium-grade crude in addition to indigenous crude. In order to diversify the crude basket, the refinery will mostly use Russian Urals, with

IOC advocates integrating biodiesel processing within existing refineries

Indian Oil, India’s largest state-owned oil and gas corporation, is urging the government to allow biodiesel to be processed alongside traditional crude oil at its refineries, a shift it argues could facilitate the country’s ambitions for a 5% biodiesel blend by 2030. The development should be seen in the context of headwinds in supply of oil

EU bioethanol refineries produced more food than fuel

EU ethanol biorefineries produced more food and animal feed than fuel in 2023, according to audited data  by ePURE, the European renewable ethanol association. ePURE members – representing 85% of EU installed capacity – and other European producers of renewable ethanol produced 6.5 million tonnes of food and feed co-products including high-protein animal feed and

IOC to invest $25 billion to realize net-zero goals set for 2046

Indian Oil Corp, the country’s top refiner, plans to invest more than $25 billion to achieve net-zero emissions from its operations by 2046, its chairman S. M. Vaidya said at an annual shareholders meeting. India, one of the world’s biggest greenhouse gas emitters, is aiming to reach net-zero emissions for the country by 2070. On

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

Oil refineries in Pakistan not ready to import Russian oil

The National Refinery Limited in Pakistan has excused from the import of Russian crude oil.   The refineries in the country showing their limitations said that the transportation cost, increase voyage time, low/no capacity to process it, payment procedure and the long-term contract with Middle Eastern suppliers are the main hurdles in the way of

Crude oil output in India increased by 4.6% in May

India’s crude oil production has increased by 4.6 per cent year-on-year to 2.6 million tonnes (MT) in May 2022. Compared with the target for the month, the output was higher by 2.4 per cent. Cumulatively, the output during the first two months of FY23 rose around 2 per cent Y-o-Y to 5.1 MT, while it

US still importing Russian oil despite ban

According to a new report that tracks the flow of fossil fuels from Russia, some Russian oil is still making it to the United States as the war drags on. The Helsinki-based nonprofit Centre for Research on Energy and Clean Air produced the new report. India has quickly increased the amount of Russian oil that

ARDA says refining sector accounts for 3% of global energy emission

According to the African Refiners and Distributors Association (ARDA) the refining sector only accounts for 3% of the global energy sector emission. This was revealed at the second Refining and Specifications Virtual Workshop organised by the ARDA and monitored by Investors King. According to them, as the fuel combustion accounts for 80% of refinery carbon