IndianOil sets up pilot plants for crude oil residue products

Thursday, 06 March 2003, 20:30 IST
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State-owned refining and marketing major Indian Oil Corporation (IndianOil) has set up pilot plants at its research laboratory in Faridabad, near Delhi, to develop new technologies for producing value added products from crude oil residues.

NEW DELHI: "Set up with an investment of 340 million, pilot plants are dedicated for various up-gradation and related processes," said Petroleum Minister Ram Naik at the inauguration Wednesday. Petroleum residue is the bottom of the barrel remains after extraction of distillates such as petrol, diesel and liquefied petroleum gas (LPG) from the crude oil. About 30-35 percent of the crude oil ends up as residue, which is disposed of as fuel oil at a lower price than crude oil. This affects the overall profitability of the refinery. By using the residue for making products like needle coke, IndianOil will be able to reduce the loss. In a presentation on the occasion, IndianOil officials said the research and development centre has since its inception in 1972 developed over 2,000 formulations. Currently, the company is marketing 450 grades of lubricants, which meet global standards. Indian Railways has been able to save 1.85 billion annually as a result of IndianOil developing and producing multi-grade technology lubricants, replacing the mono-grade lubricants, officials added. The oil major exports its lubricants to several countries in the region and in the Middle East.
Source: IANS

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