Indian Oil Expands Refinery Capacity: Panipat Upgrade and Nagapattinam Project in Focus

Indian Oil Corporation (IOC) has announced significant developments in its refinery expansion plans:

1. The company expects to operate its expanded 500,000 barrels per day (bpd) Panipat refinery by June 2026. This represents a substantial increase from the current capacity of 300,000 bpd.
2. IOC is awaiting ministry approval for the 180,000 bpd Nagapattinam refinery project, to be built by its subsidiary Chennai Petroleum Corp Ltd (CPCL).

These expansions align with India's goal to increase its refining capacity to meet growing energy demand. The Panipat refinery upgrade, costing approximately ₹36,225 crore ($4.36 billion), has seen a 10% cost revision and a delay from the original September 2024 completion date.The Nagapattinam refinery, initially planned for completion by 2025, is now expected to be operational by the end of 2027, reflecting a two-year delay. This project's cost has also been revised to about ₹364 billion ($4.36 billion).These developments underscore IOC's commitment to enhancing India's refining capabilities and meeting the country's increasing energy needs.

Source: Reuters