Excellent, again
New Delhi   18-Oct-2007
Indian Oil widely acknowledged for its benevolent contribution in the nation's energy security and environment protection has now won the prestigious Infraline Energy Excellence Award. Sushil Kumar Shinde, Minister of Power presented the award to IndianOil Director BS Bankapur. Speaking about the roadmap1 for the future BN Bankapur said that as a part of Indian Oil's initiative for integration and diversification, the corporation is implementing projects worth Rs 50,000 crore. On the upcoming refinery and petrochemical complex Bankapur further added that India is increasingly being promoted as a, refining hub to service export market for petroleum products as also integrating it with petrochemicals and chemicals businesses to produce and export value added products. As a definite step in this * direction Indian Oil is setting up a grass root 15.0 MMPTA refinery integrated with processing plants/ other facilities for production of Petrochemicals viz. Paraxylene, Polypropylene and Sterene at Paradip, Orissa to be commissioned in the year 2011. Indian Oil is considered to be the country's largest commercial organisation fuelling India's growth. It is the first organisation that has attained a turnover of Rs 2,00,000 crore. Over the years, the company has sold 54.8 million tones of key petroleum products from Kashmir to Kanya kuamri. The company's seven refineries marked the highest ever production of 44 million tones, which translated into a 14 per cent growth in crude oil processing as observed in the previous year.