Indian Oil Corporation (IOC) is planning to invest Rs 18,000 crore to raise capacity of its Panipat refinery in Haryana to 25 million tonnes (mt) by 2020, larger than previously planned. The company had previously planned to raise capacity of Panipat refinery from 15 mt to 20.2 mt, but now it is looking at raising the capacity straightway to 25 mt. The nation’s largest oil firm owns and operates 11 out of India's 23 refineries with a combined refining capacity of 80.7 mt per annum.
The Panipat refinery was commissioned in 1998 with a capacity of 6 mtpa. The refining capacity was doubled to 12 mtpa in 2006 and then raised to 15 mtpa in 2010.
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.
