BPCL to invest Rs 75,000 cr in expanding refining capacity

State-run Bharat Petroleum Corporation Ltd (BPCL) will invest Rs 75,000 crore to expand refining and petrochemicals capacity over the next five years, company chairman G Krishnakumar told shareholders at the company’s annual general meeting.The ethylene cracker project at Bina refinery in Madhya Pradesh, conceived at a gross cost of Rs 49,000 crore, involves brownfield expansion

Indian steel giant withdraws Trinidad refinery bid

Naveen Jindal, Chairman of Jindal Steel and Power Limited had visited the southern Caribbean federation state with Tobago earlier this year, reciprocating a trip by Rowley to India seeking investment support to revive the Petrotrin Oil Refinery that the very Rowley administration had closed back in late 2018 because of abysmal unprofitability. Thousands had lost

US oil refining capacity falls for third time

Steel long pipes in crude oil factory during sunset U.S. crude oil refining capacity fell 4% to 17.53 million barrels per day (bpd) this year, a government report showed on Friday amid plant closures and conversions to biofuels. The Energy Information Administration (EIA) said the figures reflect capacity online as of Jan. 1, and the

Braya renewable diesel refinery begins operations

The Braya Renewable Fuels refinery in Newfoundland and Labrador has started operations, giving the facility a second life as a production site for renewable diesel. Owned and operated by Braya Renewable Fuels, it was formerly the Come by Chance petroleum refinery. In November 2021, Dallas-based private equity firm Cresta Fund Management acquired a controlling interest

Iraq reopens it’s refinery to cut imports

Iraq reopened on Friday what was once the country’s largest oil refinery, a step the government hopes will lead to an end to its dependence on fuel imports. The North Refinery in the city of Baiji, 200 kilometres (124 miles) north of Baghdad, was heavily damaged in some of the fiercest battles with the Islamic

IOC cuts jet fuel prices for January

State-controlled refiner IOC has reduced jet fuel prices for the third consecutive month, effective from 1 January in line with international prices. IOC cut jet fuel prices by nearly 4% from its last revision to 95,372.43rupees/kilolitre ($1,145/kl). The refiner reduced jet fuel price in Delhi by Rs3,850.81/kl to Rs101,993.17/kl. It cut prices in Chennai and

Neste’s Porvoo refinery to be gradually transformed into renewable hub

Neste launched the strategic study in September 2022 with an aim to significantly grow its renewables and circular production in Porvoo long term, starting with the co-processing of both renewable and circular feedstock which could lead to retrofits of existing units at a later stage, with a long-term capacity potential of 2 to 4 million

HPCL to set up 2G bio-refinery plant worth Rs 1,400 cr

The 2G bio-refinery is designed for the utilisation of paddy straw for the production of ethanol for blending with petrol under the Ethanol Blending Program of the Central Government As a way to tackle the problem of stubble burning in the state, Hindustan Petroleum Corporation Limited (HPCL) has decided to set up a Second Generation

MRPL becomes largest single location refinery in India

The Mangalore Refinery and Petrochemicals Limited (MRPL), a mini-Ratna CPSE PSU refinery based in coastal Karnataka and a subsidiary of ONGC, has become the single largest PSU-refinery (single location) in the country for the year 2022-23. MRPL achieved this feat by processing 17.14 million metric tonnes of crude oil during the past financial year. This

Livista refinery to use recycled material to reduce emissions

This is enough to supply the battery needs of around 850,000 electric vehicles (EV), with the potential to double production capacity to meet growing EV demand and requirements for high-grade, locally refined lithium chemicals, according to Livista.