The state-owned Indian Oil Corp (IOC) will buy 1.6 million cubic metres of natural gas a day from Reliance Industries (RIL) to replace costlier liquid fuel at its refineries.
IOC currently uses crude oil or fuel oil for production of hydrogen at its refineries, and natural gas from RIL's eastern offshore KG-D6 field will replace the costlier fuel, a senior company official said.
"We have tied up with GAIL India for transportation of the gas and are now waiting to initial the Gas Sale and Purchase Agreement (GSPA) with RIL," he said.
Last year, an Empowered Group of Ministers had allocated 5.384 mmcmd of gas from KG-D6 to public and private sector refineries, against their demand for 22.8 mmcmd.
IOC had demanded 6.58 mmcmd of gas for its Gujarat, Mathura and Panipat refineries, but as refinery as a sector was allocated less than one-fourth of its demand, the state- owned firm is being proportionately given 1.6 mmcmd, he said.
Gas flow to IOC's Koyali refinery in
Last year, IOC had sought 1.92 mmcmd of KG-D6 gas for its Koyali refinery near Vadorara, 0.81 mmcmd for its
Besides this, Bharat Petroleum had sought 2.18 mmcmd for use at its Mumbai refinery, while Hindustan Petroleum wanted another 2.18 mmcmd for its refinery in the same city. RIL wanted 11.23 mmcmd at its twin refineries at
All the refineries have been allocated KG-D6 gas proportionately, out of the 5.384-mmcmd firm allocation made by the EGoM in October last year. An additional 6 mmcmd was allocated to them on a fall-back or temporary basis.
While RIL's twin refineries have been given 4.49 mmcmd each, BPCL has been allotted 0.26 mmcmd, the official said, adding that the two firms are already drawing gas from KG-D6. Use of gas in oil refining helps companies save on input costs and meet environmental norms.
Wednesday, May 12, 2010
IOC to buy natural gas from RIL for replacing costlier fuel
Industry Research Reports
LIC Term Insurance or Pvt Life Insurance Term Plan ? Which is the best term insurance in India ? Which Insurance company has the best cla...
આજકાલ કોઈપણ સમસ્યા હોય લોકો એન્ટિબાયોટિક્સ અંગ્રેજી દવાઓ લેવાનું વધુ પસંદ કરતાં હોય છે કારણ કે આજની પેઢીને આપણા જુનવાણી નુસખા વિશે જાણ હોત...
http://www.livemint.com/2007/12/13162756/SBI-UTI-MFs-to-manage-post-of.html New Delhi: Government has appointed PSU mutual funds UTI MF a...
સુરતી લોચો બનાવવાની રીત Surati Locho - સુરતી લોચો લોચો એ ગુજરાતની સૌથી સ્વાદિષ્ટ ચટપટી ખાવાની ચીજો પૈકીની એક ચીજ છે. લોચો બનાવવાની ...
i-Develop Multibagger Stock Performance last year Enter Date Exit Date Bse Code Scri...
NTPC and RIL are fighting a case in the Bombay High Court over gas pricing for the former's Kawas and Gandar power plants....
Global private equity giant The Blackstone Group has announced that it has bought a majority stake in CMS Computers Ltd. Black...
Introduction The Japanese began using candlestick patterns for over 100 years before the West developed the bar and point and figure syst...