Indian Oil targets 55 MT crude processing in 2015-16

New Delhi: Announcing plans for the new financial year that began on Wednesday, state-run Indian Oil Corp (IOC) said its refineries have targeted to process 55 million tonnes (MT) of crude during the fiscal.

Addressing employees here, the company’s director of refineries, Sanjiv Singh, said the state-of-the-art Paradip refinery in Odisha will be added to the group along with the ones in Guwahati, Barauni, Gujarat, Haldia, Mathura, Panipat, Digboi and Bongaigaon, according to an IOC release here on Wednesday.

“Indian Oil refineries achieved crude output of 53.61 MT during the year 2014-15 with a capacity utilization of 98.9 percent in spite of a few shut-downs for improvements,” the statement said.

“With focused efforts during the year towards energy conservation, refineries have achieved best ever overall specific energy consumption with implementation of various energy-saving schemes and close monitoring of energy parameters,” it added.