Drive towards green and renewable fuels
New Delhi   03-Apr-2008
As a step towards ensuring the energy security and sustained economic growth of the nation, IndianOil, in its growth-oriented Memorandum of Understanding (MoU) with the Government of India for the year 2008-09, has focused its efforts on ushering in cleaner and sustainable energy resources. Major initiatives that would facilitate the drive towards green and renewable fuels are residue upgradation project at Gujarat Refinery, petrol quality up gradation projects at Panipat and Mathura refineries, commencement of plantation of bio-crops (in Chattisgarh), study of the effect of 10 per cent ethanol blend in petrol and qualitative progress in R&D Projects including alternative fuels, improvement in refinery process technologies and reduction in catalyst consumption. The MoU was signed between MS Srinivasan, Secretary, Ministry of Petroleum and Natural Gas and Sarthak Behuria, Chairman, IndianOil. Financial performance (including gross sales, gross margin, net profit/net worth and gross profit/capital employed) and throughput of refineries as well as product pipelines continue to be key parameters, with large capital investment planned for project implementation. During the year, IndianOil will commission a world-class Naphtha Cracker Project with downstream polymer units at Panipat, to establish itself as a leading petrochemicals player in Southeast Asia. Assessment of customer (direct, reseller, LPG and aviation) satisfaction has been targeted to maintain the corporation's market leadership.