IOC plans to double its refining capacity in India by 2030
India's largest oil company Indian Oil Corp. (IOC) plans to nearly double its oil refining capacity by 2030, from the current 80.7 Mt/year to 150 Mt/year by 2030.
The company has set an intermediate target of 105-110 Mt/year by 2022. The group plans to invest Rs 40,000 crore (US$6bn) to reach about 105 Mt/year by 2022. The group plans to raise the capacity of its Koyali refinery in Gujarat, from the current 13.7 Mt/year to 18 Mt/year. The group will convert the refinery to process gasoline and diesel meeting BS VI norms. The 32% increase in capacity is expected to be commissioned in 2020.
IOC will also raise the capacity of its 15 Mt/year Panipat refinery in Haryana by 33% to 20.2 Mt/year. The company plans to add 3 Mt/year at its 8 Mt/year (160,000 bbl/d) Mathura refinery in Uttar Pradesh, at its 6 Mt/year Barauni refinery in Bihar and at its Digboi and Bongaigaon refineries in the North-East. IOC's expansion plans include a 5 Mt/year capacity addition at its recently commissioned 15 Mt/year Paradip refinery in Odisha. Other expansion or new-build projects will be required to reach the 150 Mt/year capacity target.
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