APSEZ and Indian Oil Corp Ltd (IOCL) signed a deal on Tuesday to increase IOC’s crude oil volumes at Mundra.
Indian Oil will extend its existing crude oil tank farm at APSEZ’s Mundra Port, allowing it to handle and blend an additional 10 million tonnes per annum of crude oil.
The growth of IOCL’s Panipat Refinery will be aided by this (Haryana). To address India’s rapidly growing energy needs, IOCL is increasing capacity at its Panipat Refinery by 66 percent to 25 MMPTA.
“Mundra Port is a key economic gateway that provides multimodal connection to India’s northern hinterland.” It brings us great pleasure to deepen our collaboration and help IOCL, which plays a critical role in guaranteeing the nation’s energy security.
As IOCL’s trusted long-term partner, APSEZ is well equipped to handle the additional 10 MMTPA crude oil at our existing single buoy mooring (SBM) at Mundra.” said Karan Adani, CEO and Whole Time Director of APSEZ.
Indian Oil has a refinery capacity of 80.55 MMTPA and a pipeline network of over 15,000 kilometres, accounting for approximately half of India’s petroleum products market share. The SBM at Mundra Port handles a portion of IOCL’s current crude oil requirement of 15 MMTPA for its Panipat Refinery.
Very Large Crude Carriers (VLCCs) offload crude oil at the Mundra SBM, which is located 3-4 kilometres off the coast. The crude oil is subsequently transported via the Mundra Panipat Pipeline from SBM to the Crude Oil Tank Farm and finally to the refinery at Panipat (MPPL).
Indian Oil is currently operating a crude oil tank farm in an exclusive area in Adani’s Mundra Special Economic Zone, consisting of 12 tanks with a total capacity of 720,000 KL. The addition of 9 new tanks will augment the storage capacity to 1,260,000 KL, thus making Mundra Port by far the largest port based crude oil storage facility for IOCL.
