Sh Dharmendra Pradhan holds bilateral meeting with Bangladesh and Sri Lanka on energy issues

Sh Dharmendra Pradhan holds bilateral meeting with Bangladesh and Sri Lanka on energy issues; Prime Minister Shri Narendra Modi to dedicate Paradip Refinery to the nation on 7th February, 2016 

The Minister of State (I/C) for Petroleum and Natural Gas Shri Dharmendra Pradhan held bilateral meetings with Dr. Tawfiq-e-Elahi Chowdhury, BB, Energy Adviser to PM of Bangladesh and Dr Anoma Gamage, Deputy Minister of Petroleum Resources Development of Sri Lanka in Bhubaneshwar, Odisha. Both dignitaries are in India at the invitation of Sh. Pradhan to participate in the ceremony at Paradip where Hon’ble Prime Minister Narendra Modi will be dedicating to the nation the Indian Oil refinery tomorrow. 

During his meeting with the Energy Adviser of Bangladesh, Shri Pradhan conveyed India’s commitment to work with Bangladesh to further bilateral cooperation in the energy sector. He informed on the investment proposals of Indian Oil Companies in Bangladesh and said that their early implementation would create win win situation for both countries and sought cooperation from Govt. of Bangladesh. With the commissioning of the Paradip refinery, he added that India would be once again in a position to export petroleum products to Bangladesh. He also expressed keenness of India in setting up of marketing infrastructure in Bangladesh. He also sought favourable consideration for transit of LPG to India’s North Eastern region through territory of Bangladesh. Sh Pradhan noted that Indian PSUs were interested in participating in petroleum sector of Bangladesh, including in exploration, refinery expansion and related PMC works. Sh Pradhan also expressed his appreciation for the valuable support of Bangladesh in implementation of Indian projects.

Sh Pradhan during his meeting with the Sri Lankan Deputy Minister of Petroleum Resources Development discussed the issues such as expansion of activities of Lanka IOC, in Sri Lanka, including in the retail business, bunkering and marketing of ATF and LPG. Lanka IOC is a subsidiary of Indian Oil Corporation. He reiterated the commitment made by Hon’ble Prime Minister to work with Sri Lanka to make Trincomalee a regional energy hub. He expressed India’s interest in establishing refinery and bunkering operations in Sri Lanka. He expressed confidence that both Sri Lanka and India will work in a spirit of partnership in the hydrocarbon sector.

Prime Minister, Shri Narendra Modi will be dedicating the state of the art Paradip Refinery, Indian Oil's most ambitious project on 7th February, 2016. The foundation stone of this ambitious project was laid by former Prime Minister, Shri Atal Bihari Vajpayee on 24th May, 2000. Set up at an estimated cost of Rs. 34,555 crore, this grassroots Refinery will further augment Indian Oil's refining capacity by 15 MMTPA.

Indian Oil’s 11th Refinery at Paradip, will help in meeting the burgeoning energy demands of the country. For better profitability, the refinery has been designed to process 100% high sulphur, including 40% heavy crude oil of low cost to produce various petroleum products like Petrol, diesel, kerosene, Aviation Turbine fuel, Propylene, Sulphur and Petroleum Coke.

Presently, Paradip Refinery will produce Motor Spirit and High Speed Diesel of BS-IV quality and later will switch to BS-VI quality to comply with the Auto Fuel Policy of the Government of India. The refinery is also designed to produce Euro-V premium quality Motor Spirit and other green auto fuel variants for export to advanced countries. Paradip Refinery has a unique INDMAX Unit technology, which is indigenously been developed by Indian Oil's R&D Centre. The INDMAX Unit is designed to produce 44% LPG, the highest from such plants.