HPL Closure not Affecting IOC much

Posted on 17th Jan 2015 11:20 am by mohit kumar

Kolkata, Jan 16 (IANS) State-owned Indian Oil Corporation (IOC) Friday said the closure of West Bengal's flagship industrial project Haldia Petrochemicals Ltd. (HPL), where it supplied around 50,000 tonnes of naphtha monthly, will have a minimal effect on it.

"We used to supply HPL around 50,000 MT of naphtha, the main feedstock of the plant. But its closure had minimal impact on us. It is not that our entire naphtha was only for HPL," IOC executive director Y.K. Gupta told reporters here.

"As HPL is not taking anymore naphtha, but whatever we are producing is being consumed by various others sources. We are now sending around 10,000 to 12,000 MT of naphtha per month to our refinery in Panipat and other sources," Gupta said.

Operations at HPL were suspended since July 7, following a technical snag in the naphtha cracker unit.

Gupta said IOC's Rs.34,500 crore Paradip refinery will be commissioned March-April this year.

"The Paradip refinery, based on petrochemical, is also coming up and we are hoping that it will be commissioned by March-April this year," he said.

"The country's fuel consumption grows annually by 5 percent and almost 83 percent of fuel demand is met from imports. Last year, we spent $160 billion on fuel imports. So, it is imperative that we conserve it," said Gupta.

Other news

Ukraine crisis: Britain continues to crack down on Russian nobles, who are Alisher Usmanov and Igor Shuvalov who were banned?

Russia's aggressive attack on Ukraine continues. Russian President Vladimir Putin's army launched

Polkadot Price India INR: The price of Polkadot fell by four percent, know where the value of this digital currency reached by slipping

The price of the Polkadot cryptocurrency saw a major fall on Friday. The price of this digital cu

Infinix Zero 5g: Infinix launches cheap 5G smartphone, OnePlus will compete with these Samsung smartphones with up to 13 GB RAM

Infinix Zero 5G Features: Smartphone maker Infinix has launched its new and first 5G smartphone Z

Eggs thrown at Naveen Patnaik's carcade

Bhubaneswar, Feb 19 (IANS) Eggs were hurled and black flags waved by a group of protestors at O

SA vs IND: 13 Indian batsmen could not score double figures in both innings, Rohit Brigade lost due to these 3 reasons

The Boxing Day Test match played between India and South Africa (IND vs SA 1st Test) ended on the

Coronavirus Update: India has the lowest number of Covid-19 cases since March 2020, active cases also declined

Coronavirus Update: India has recorded the lowest number of Covid-19 cases since March 2020. Acco

Budget 2024: Atishi called the interim budget a box of catchphrases, and said- Central government behaves step-motherly

The AAP government in Delhi termed the budget presented by the BJP central government on Thursday

Afghanistan: Taliban regime became hell for girls, father made a deal with his nine-year-old daughter to satisfy the family's hunger

Afghanistan is going from bad to worse after the Taliban rule. The economic condition here is so

Prithvi Shaw: 'Trolling hurts', Prithvi Shaw expressed his pain after remaining unsold in IPL 2025 mega auction.

Prithvi Shaw had set his base price at Rs 75 lakh for the IPL 2025 mega auction. It was expected

Aparajita Bill: Anti-rape bill passed unanimously by Bengal Assembly, provision for death penalty or life imprisonment till last breath

The anti-rape bill was introduced in the Bengal Assembly today i.e. on Tuesday, which was passed