• Indian Oil Corporation to spend Rs 20,000 crore in expansion of its Gujarat refinery

    Union Minister Dharmendra Pradhan today said PSU major Indian Oil Corporation was going to spend Rs 20,000 crore for brownfield expansion of its refinery near here.

    “IOC’s Gujarat Refinery here has been asked to jump directly from BS IV to the more stringent BS VI norms for petrol and diesel, so that cleaner transport fuels become available sooner to bring down vehicular emissions,” the Union Minister of State for Petroleum and Natural Gas said after visiting the refinery.

    He told PTI that the Gujarat Refinery was expanding capacity to 18 million tonnes per annum (MTPA) from the existing 13.7 MTPA. The expansion is expected to be commissioned in 2020.

    “After the expansion, it will become the refinery with largest capacity for the company,” the Union Minister said.

    Pradhan also said he would be visiting Iran on April 9, and was looking to expand energy ties with that country.

    The agenda of the visit includes ONGC’s participation in developing the Farzad-b gas field, buying additional crude oil and settling pending payments for earlier oil purchased from Iran, he said.

    “I will also discuss projects including petrochemicals and fertiliser plants in the special economic zone at Chabahar port in Iran,” he said.

    External Affairs Minister Sushma Swaraj will visit Iran later this month, he said.

    With changes in the geopolitical situation, India is in a better position to source natural gas and LPG from Iran and oil and gas from Russia, he said.

    “Post-sanctions Iran provides a huge opportunity for India for sourcing natural gas which would increase the availability of CNG and cooking gas in the country,” he added. 

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