MOSCOW (MRC) -- The US Trade and Development Agency (USTDA) and India’s largest commercial organization IndianOil will jointly work to explore cleaner fuels, said Hydrocarbonprocessing.
The USTDA awarded IndianOil a grant to analyze options for optimizing its refining operations to produce cleaner fuels, which will help the company improve efficiency and reduce emissions at its refineries, as well as meet environmental standards. An agreement was signed by Mr. Sanjiv Singh, Director of Refineries, IndianOil and Mr. John McCaslin, Minister Counsellor for Commercial Affairs, US Embassy today in Delhi.
The feasibility study will include market, technical, economic and financial analysis of advanced technologies to help IndianOil identify solutions for converting refinery by-products into cleaner chemical products or fuels. This project follows IndianOil’s participation in a USTDA reverse trade mission that brought Indian energy officials to the United States for meetings and site visits focused on refinery modernization.
IndianOil has also been focusing on research and development to add value in production of environment- friendly fuels.
As MRC informed earlier, in July 2016, Indian oil Corp Ltd (IOCL), India's largest refiner and oil marketing company, is likely to shut its HDPE/LLDPE swing unit at Panipat refinery in north India. Located at Panipat in the northern Indian state of Haryana, the HDPE/LLDPE swing plant has a production capacity of 350,000 mt/year.
Indian Oil Corporation Limited, or IndianOil, is an Indian state-owned oil and gas corporation with its headquarters in New Delhi, India.
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