India: Essar Oil, IOC, Renew Agreement
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Monday, 28 November 2011 |
Essar Oil has renewed its major product sale and purchase agreement with India’s largest oil retailer, Indian Oil Corporation. The renewed agreement, which will run from 2012 to 2015, will see Essar providing diesel, petrol, kerosene and ATF (aviation turbine fuel) products totally two million tonnes a year to IOC from its Vadinar Refinery.
Essar holds similar arrangements with Bharat Petroleum Corporation and Hindustan Petroleum Corporation. However, the contract will be Essar’s largest fuel supply contract. Essar is conducting major works to expand its Vadinar refinery, and plans to increase capacity to 375,000 bpd by March 2012.
PetrolWorld 28112011
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