IOC Aims To Be Global Refinery Tech Provider


(The Hindu)

With the edge proffered by its R&D centre, Indian Oil Corporation Ltd (IOC), the over-$70-billion public sector oil giant, is transitioning from an adopter to provider of indigenously developed refinery technology to the world. Its R&D now has the capability to supply about 90 per cent of the technology needed to set up a modern greenfield refinery.  Meanwhile, the company’s R&D operations are getting strengthened for the future with two major developments.

First, it is on the verge of becoming a full-fledged refinery technology player from concept to commercialisation. Second, its upcoming 2,300-crore world-class R&D facility, about 8 km from the existing one in Faridabad, is expected to provide a significant technological edge to IOC not just in its core refinery and lubricants segment, but also in alternative energy areas.

The oil major’s R&D centre in Faridabad has commercialised at least a dozen technologies at various plants of the company. The cumulative improvement in GRM (gross refining margin) on account of the adoption of own technologies at IOC refiners is estimated at 1,577 crore per year. Its flagship INDMAX is a residue upgradation technology that maximises the LPG yield in a refinery. This technology has won many international awards, beating global refinery giants such as BP and Total.


About Author

Twitter Auto Publish Powered By :