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Essar Oil has renewed a product sale and purchase pact with IndianOil.
The three-year agreement, from 2012 to 2015, will see Essar supply two million tonnes of diesel, petrol, kerosene and aviation turbine fuel annually to IOC from its Vadinar refinery.
In turn, it will buy products from IOC and the duo plans to explore the option of sharing retail infrastructure.
This is Essar's largest fuel supply contract. It has similar ones with Bharat Petroleum Corporation and Hindustan Petroleum Corporation.
Mr S. Thangapandian, CEO (Marketing), Essar, said, “Once the ongoing expansion project is completed, our Vadinar refinery will be able to serve our PSU customers better.”
Mr Karandikar, GM-Supplies, IOC, said with the rapid growth in petroproduct demand coupled with additional capacity from the Vadinar refinery, the company was looking forward to increasing its offtake.
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