Tag Archives | refining

Double trouble

It’s a double whammy for Reliance Industries. Not only have petrochemical margins dwindled but gross refining margins (GRM) have also fallen sharply in the last two months. One report suggests that the company recorded negative refining margins in October and November and that the GRM for the quarter ending December 2008 would be considerably lower […]

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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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Ask for more!

Indian managers looking for job opportunities in the Middle East will find this report interesting. A Middle East salary survey carried out by bayt.com (a Middle East-based jobs website) shows that while salaries rose by 12-17% last year, the cost of living climbed by 27-28%. The rise in cost of living was the fastest in […]

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Reliance plans EPC venture

After cracking the world of oil, gas, refining and petrochemicals Reliance Industries is setting its sights on the engineering, procurement and services (EPC) sector says this report in today’s Economic Times. A blueprint for a global EPC business is said to be ready and the plan with Reliance looking at a turnover of Rs50bn in […]

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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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IOC eyes Egypt

Indian Oil Corp (IOC) is the latest entrant to Egypt. The country’s oil minister has said that talks are on for a $9bn refinery and petrochemical complex. A feasibility study is likely to be ready by mid-2010 after which IOC would take a final decision on the investment. Egypt has drawn up a mega plan […]

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Preparing for the future

I am back from the first Asian Chemical and Petrochemical Conference with lots of information on the Indian chemicals industry that I plan to share in the coming days. The conference, jointly organised by ICIS and the Indian Chemical Council (ICC) at Mumbai, saw over a 100 delegates from India and overseas. For the first […]

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