Tag Archives | IOC

Ready for rubber

Indian Oil Corp (IOC) recent financial woes do not appear to have dampened its interest in petrochemicals. After pushing back plans for a paraxylene (PX), polypropylene (PP) and styrene plants downstream of a proposed refinery at Paradip, it is interesting to read that the company intends to soon start a detailed feasibility study on a […]

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Paradip update

I had written about a delay in Indian Oil Corp’s (IOC) paraxylene (PX), polypropylene (PP) and styrene projects at Paradip because of rising costs and financial constraints. But a company source tells me that a final decision on the timing of these projects and the refinery will be decided by the end of this month. […]

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Paradip petchems postponed

After years of planning and crossing many hurdles IOC has now decided to defer the petrochemical portion of its Paradip project. The decision comes at a time when the company is struggling to cope with huge losses on account of record high crude oil prices and the government’s reluctance to raise retail fuel prices. IOC […]

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Another one bites the dust?

Yet another project appears to be fallen through. This time it is Chennai Petroleum Corp’s (CPCL) refining and petrochemicals venture at Ennore in Tamil Nadu. Indian Oil Corp’s (IOC) chairman Sarthuk Behuria said in a press conference yesterday that the project may never come up as the country already had surplus refining capacity. CPCL is […]

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Projects and protests

I am back from my holiday and have discovered no earthshaking developments in the last few weeks. But the following news articles caught my eye. First, Dow Chemical’s European arm and GACL have agreed on a 50:50 joint venture to produce 200,000 tonnes/year of chloromethanes at Dahej, on the west coast of India. The plant […]

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Trouble at Paradip

I was under the impression that there are no major hurdles to Indian Oil Corp’s (IOC) refinery and petrochemical project at Paradip. But I came across this news yesterday that the viability of the project is in question following the government’s decision to withdraw a tax holiday from 1 April 2009. The project has been […]

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West Bengal draws Hindujas

West Bengal’s proposed chemical hub at Nayachar has attracted the Hindujas with the group indicating an interest to set up operations in the state. Plans are still at an early stage but Subir Raha, executive vice-chairman of the Hinduja Group, has indicated big plans in India’s oil and gas sector. West Bengal is likely to […]

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Barauni beckons

State-owned IOC and Gail appear to have been drawn into yet another futile petrochemical project by politicians. This time it is in Barauni, Bihar. IOC operates a 6m tonnes/year refinery at Barauni but this is unlikely to yield sufficient feedstock for the project. The ministry for chemicals and fertilisers has therefore asked Gail to develop […]

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Awash with paraxylene

There is one more paraxylene (PX) plant being planned in India and it is Indian Oil Corp (IOC) again. IOC is said to be studying a plant next to its refinery in Vadodara, Gujarat and has received preliminary approval from its board. There are no details yet on capacity and timing of the project. IOC […]

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IOC invited to Nayachar

I have found the answer to my question in last week’s posting on the proposed chemical hub at Nayachar, West Bengal. I had wondered which public sector company would be targeted by the West Bengal government for investment at Nayachar. According to The Telegraph, Indian Oil Corp (IOC) has been invited to set up shop. […]

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