home

IOC to raise high sulphur crude processing in 2-3 years

NEW DELHI: State-run refiner Indian Oil CorporationBSE 0.64 % (IOC) aims to raise its high sulphur crude processing to 67 percent of its total refining capacity in two-to-three years from 53.3 percent in 2012/13, itschairman said on Thursday. 

The country's biggest refiner sees its capital expenditure during the current fiscal year to March 2014 at 112.7 billion rupees ($2.01 billion), 20 percent higher from 2012/13, R.S. Butola said. 

IOCBSE 0.64 % and subsidiary Chennai Petroleum Corp control 10 refineries, accounting for about 30 percent of India's capacity of 4.3 million barrels per day.