01-04-2016

IndianOil refineries mark new records of performance during 2015-16

IndianOil refineries have achieved a new record of crude throughput of 56.1 MMT with a capacity utilization of 103.5% during the year 2015-16.  IndianOil’s nine refineries also marked the best-ever combined distillate yield of 80.5 wt%, surpassing the previous best of 78.8% during 2014-15.  This was disclosed by Shri Sanjiv Singh, Director[Refineries ] while addressing the employees of the company today.

Congratulating the employees of the largest refiner of the country for the praiseworthy performance, Shri Sanjiv singh said that with focused efforts towards energy conservation, the refineries achieved lowest Fuel & Loss (F&L), Specific Energy Consumption (MBN) and Energy Intensity Index (EII) at 8.53%, 53.8 and 101.2 respectively, as compared to the previous best of 8.77%, 54.4 and 104.5 for the year 2014-15. Individually, all refineries achieved various milestones. Many refineries achieved all time high crude processing. Almost all refineries achieved highest distillate production with lowest fuel & loss, which is really commendable, said Shri Singh.

The commissioning and dedication to the nation of our world-class Paradip Refinery spelled the dawn of a new era of progress and opportunities for IndianOil. With the Hon’ble Prime Minister of India dedicating this flagship refinery at Paradip on 7th February, 2016 to the nation, IndianOil’s refining capacity from nine refineries has been enhanced to 69.2 MMTPA.

The commissioning of INDMAX Unit at Paradip (4.17 MMTPA), based on the indigenous technology developed by our R&D Centre was another golden milestone for IndianOil, achieving global recognition as a technology supplier and a tribute to the Make in India movement. Continuing with indigenous technologies, Shri Dharmendra Pradhan, Minister of State (I/C), Petroleum & Natural Gas laid the foundation stone of the ambitious OCTAMAX project at Mathura Refinery on 6th March 2016. The Refinery also commissioned New Propylene Recovery Unit (NPRU) in  May 2015, to produce polymer-grade propylene with high purity. Another upcoming project is INDMAX at Bongaigaon, which coupled with Indmax Gasoline Hydrodesulphurization (IGHDS) unit and associated facilities will increase distillate yield of the Refinery, while making the refinery BS-VI capable. Several new projects have been approved during 2015-16. As per the recent Government guidelines, BS-VI quality fuel norms are to be implemented in the entire country from 1st April, 2020. To this end, various revamps and installation of new units are envisaged at Gujarat, Panipat, Mathura, Haldia, Digboi and Bongaigaon Refineries. In Guwahati, BS-VI Motor Spirit compliance will be achieved with the commissioning of INDAdept-G & Catalyst replacement of HDT unit. Paradip Refinery is ready for supply of BS-VI grade HSD.

Past several years have witnessed extreme volatility in global oil markets, riding the tide of  rise and subsequent fall in the world crude oil and petroleum product prices. In this context, year 2015-16 was an eventful year for all stakeholders. This was due to the  sharp decline in crude oil prices, availability of additional crude oil from Iran, following the lifting of political sanctions, which coupled with a downturn in world growth and oil consumption has altered the energy landscape of major oil importing countries.

IndianOil refineries explored to innovate and remained flexible to utilise the windows of high-margin periods that crude oil volatility offers and as many as eight new crudes were processed for the first time in our refineries during 2015-16 for widening the crude basket and to tie up new crude sources.