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IOC eyes output of over 1 mt ‘Very Low Sulphur’ Marine Fuel in 2020

Indian Oil aims to produce more than 1 million tonnes of "very low sulphur" marine fuel in 2020, Chairman Sanjiv Singh said. India's largest state-run refiner will boost low sulphur bunker fuel output this year, Singh said.

 

IndianOil, which is buying oil from the United States via spot tenders and annual deals, will explore an annual deal for purchase of oil from Russia, he said. The company, which is looking to raise funds, is considering monetizing some of its assets.

 

The refiner will decide whether to bid for state-run Bharat Petroleum Corp Ltd after examining tender details, Singh said.

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