In a bid to improve margins, Indian Oil Corporation (IOC) is planning to raise processing of cheaper crude oil varieties to 30% by 2017-18. In pursuit of this plan, IOC has been enhancing capabilities of its refineries to process cheaper crude varieties as well as initiated action to provide optimum crude mix to refineries.
In 2013-14, IOC, which owns 30% of the nation’s oil refining capacity, turned 54.65 million tons of crude oil into fuel. Of the crude oil processed, 16.1 per cent was heavy and high TAN (total acid number) crude.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
