Indian Oil Corporation's refineries have surpassed their previous best performance of crude oil processing. They have turned 55.6 million tonnes (mt) of oil into products during 2011-12. The previous best was achieved last year at 53 mt.
Earning overall capacity utilisation of 102.6 per cent, the refineries have marked over 100 per cent capacity utilisation for the fifth year in a row, said the Director [Refineries] of IOC, Mr RajKumar Ghosh. He was addressing IOC employees in Delhi.
Realising the need to add value through improved gross margins of refineries, profitability improvement studies have also been carried out through a special task force at Gujarat, Panipat, Haldia and Mathura Refineries, he said. In-house engineers have identified various schemes, which are under implementation. Similar studies are also being carried out at other refineries, he added. The capacity expansion of Gujarat refinery from the present 13.7 mt a year to 18 mt and setting up of Butene-1 at Panipat Naphtha Cracker Complex have also been planned by the company, he said.