Indian refiner plans expansion drive

NEW DELHI, August 10, 2016 – India’s Chennai Petroleum is planning a major increase in refining capacity, the company’s managing director said on Wednesday. According to local media, the Indian Oil Corporation subsidiary will target a ninefold increase in processing capability.

Chennai Petroleum’s plans centre on the Nagapattinam refinery, the capacity of which is to be raised from 20,000 bpd to around 180,000 bpd. “We will complete studying the expansion plan by early next year and then seek approval from the board,” the company’s managing director, Gautam Roy, was quoted as saying. Chennai Petroleum has reportedly earmarked USD 3 billion for investment in the facility, located in Tamil Nadu state.

“The capacity expansion will help increase the availability of petroleum products in Tamil Nadu and other southern states,” Roy added.

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