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4 years ago
India's IOC to raise high sulphur crude processing in 2-3 yrs
May 30, 2013 / 11:34 AM / 4 years ago

India's IOC to raise high sulphur crude processing in 2-3 yrs

NEW DELHI, May 30 (Reuters) - State-run refiner Indian Oil Corporation (IOC) aims to raise its high sulphur crude processing to 67 percent of its total refining capacity in two-to-three years from 53.3 percent in 2012/13, its chairman said on Thursday.

The country's biggest refiner sees its capital expenditure during the current fiscal year to March 2014 at 112.7 billion rupees ($2.01 billion), 20 percent higher from 2012/13, R.S. Butola said.

IOC and subsidiary Chennai Petroleum Corp control 10 refineries, accounting for about 30 percent of India's capacity of 4.3 million barrels per day. ($1 = 56.1850 Indian rupees) (Reporting by Nidhi Verma; editing by Malini Menon)

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