Iran in talks with Indian refiners for upgradation

New Delhi, Jun 29: Eyeing the country's refinery market, Iran today said it is in touch with the Indian refiners for their capacity upgradations.

''We are in talks with several Indian refineries for enhancing their capacity,'' Iran special representative of Minister of Petroleum H Ghanimi Fard told reporters here on the sidelines of a conference.

With a view to become a global refining hub, India has set a target of adding 2.14 million barrel per day (bpd) to its existing 2.98 million bpd capacity by 2012.

Many refineries increased their processing capacity, such as Indian Oil Corporation (IOC) doubled its Panipat refinery's capacity to 2,40,000 bpd, and the 6,60,000 bpd refinery of Reliance Industries Ltd in western part of the country operated at 112.3 per cent capacity last month against 93.8 per cent a year ago.

UNI

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