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Bharat Petroleum to expand Kochi refinery by end of 2015

April 04/2012

(hydrocarbonprocessing) -- India's second-largest state-run refiner and fuel retailer will raise the Kochi refinery's output by 120,000 bpd to 310,000 bpd, seeking to keep up with higher sales volumes.

Bharat Petroleum said Friday it will spend INR142.25 billion (USD2.8 billion) by December 2015 to expand its Kochi refinery in southern India by 63%, as it seeks to keep its capacity in line with its refined fuel products sales volume.

India's second-largest state-run refiner and fuel retailer by capacity will increase the Kochi refinery's capacity by 120,000 bpd to 310,000 bpd, it said in a statement to the Bombay Stock Exchange.

Weakness in demand for refined petroleum products amid the global economic slowdown has led several European and US refiners to shut capacity.

However, state-run refiners in India and other emerging markets are ramping up capacities as the expanding economies drive demand for products.

The South Asian nation's state-run refiners and retailers also have an advantage over their private-sector peers as the government partly subsidizes them for selling diesel and cooking fuels at controlled rates.


mrcplast.com
Author:Anna Larionova
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Category:General News
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