Indian Oil to Invest $1.19bn to Build New Crude Oil Pipeline
12.27.2021 - NEWS

December 27, 2021 [Off-Shore Thecnology] – The 17.5MMTPA pipeline will run from the port city of Mundra in Gujarat to the company’s Panipat refinery in Haryana.

 

State-owned oil refiner Indian Oil Corporation (IOC) is planning to invest $1.19bn (INR90.28bn) for the construction of a new crude oil pipeline project in the country.

With a nameplate capacity of 17.5 million tonne per annum (MMTPA) capacity, the pipeline will run from the port city of Mundra in Gujarat to IOC’s Panipat refinery in Haryana.

The project will also include installation of nine crude oil storage tanks, each with 60,000 kilolitres capacity, at Mundra.

IOC expects the new pipeline system and storage tanks to help in meeting the increased crude oil requirement following the Panipat refinery expansion from 15 MMTPA to 25 MMTPA.

As part of the Panipat refinery expansion plan, Indian Oil will also install Polypropylene Unit and Catalytic Dewaxing Unit. The Rs324.96bn ($4.39bn) expansion project is due for completion in Q2 FY 2024-25.

Indian Oil said in a press statement: “The crude oil pipeline project is expected to be completed in synchronization with the commissioning of Panipat refinery expansion.”

The Panipat refinery is capable of processing a wide range of both indigenous and imported grades of crude oil into value-added fuels such as petrol, diesel, and ATF.

Said to be the technically most advanced public sector refinery complex of India, the Panipat Refinery & Petrochemical complex is designed to serve the demand of petroleum products in the entire North-Western region in India.

In August 2021, IOC unveiled plans to invest nearly $13.5bn to boost its refining capacity to 106.7 million tonnes over the next four to five years.

The investment forms part of the firm’s plan to meet the anticipated fuel demand growth in near future.

Click Here to Access a 7,000 Tank Terminal Database With a Pro Trial

7,000 terminals as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

List of Tank Storage Facilities in TankTerminals.com – Week 27 (2022)
07.07.2022 - NEWS
CITGO, Chevron, Shell, ECO, NASA, Cushing, Vopak, Exolum, Scottish Fuels, Repsol, Polarbase, BP, ... Read More
U.S. Oil Refinery Utilization At Near-Peak Levels
07.04.2022 - NEWS
July 4, 2022 [Seeking Alpha] – As of May 2022, refining capacity stands at 17.9 million bar... Read More
INEOS Starts Up LV PAO Plant
07.04.2022 - NEWS
July 4, 2022 [HydrocarbonEngineering] – INEOS Oligomers has announced that it has started u... Read More
Exxon, Shell, CNOOC To Develop CCS Project In China
07.04.2022 - NEWS
July 4, 2022 [RIGZONE] – ExxonMobil, Shell, CNOOC, and the Guangdong Provincial Development... Read More