CPCL's unveils Rs 3,110 crore residue upgradation project
, ET Bureau|
Feb 27, 2018, 02.07 PM IST
CHENNAI: Union Minister of Petroleum &Natural Gas, Dharmendra Pradhan launched Chennai Petroleum Corporation’s Rs 3110 crore residue upgradation project at the company’s Manali refinery on Monday.
The project would help the Indian Oil Group company reduce feed costs and increase monetization, through upgradation of residue. Residue upgradation is a process which helps refiners get more from each barrel of oil. Through the new delayed coking process, the residue would be upgraded to fuels of higher value such as diesel, Naphtha and LPG. It would reduce production of fuel oil and increase the percentage of high sulphur crude oil processing in crude mix, which could help decrease feed costs.
Union Minister Pradhan said “The new delayed coker process will help you (CPCL) monetize the last molecule. ..CPCL has moved to more cleaner products. More monetization, more LPG, Diesel and Petrol will come out of this process. The left over pet coke will create a new raw material for the cement industry and we will try to use this pet coke for polluting business models.”
An overall increase of 700 TMT of LPG and Diesel is expected on an annual basis.
The company’s Nagapattinam refinery’s expansion from 1 MMPTA to 10 MMTPA at a cost of Rs 27,000 crores could be expected soon, the union minister said, seeking the state government’s speedy clearances on the project.
The project would help the Indian Oil Group company reduce feed costs and increase monetization, through upgradation of residue. Residue upgradation is a process which helps refiners get more from each barrel of oil. Through the new delayed coking process, the residue would be upgraded to fuels of higher value such as diesel, Naphtha and LPG. It would reduce production of fuel oil and increase the percentage of high sulphur crude oil processing in crude mix, which could help decrease feed costs.
Union Minister Pradhan said “The new delayed coker process will help you (CPCL) monetize the last molecule. ..CPCL has moved to more cleaner products. More monetization, more LPG, Diesel and Petrol will come out of this process. The left over pet coke will create a new raw material for the cement industry and we will try to use this pet coke for polluting business models.”
An overall increase of 700 TMT of LPG and Diesel is expected on an annual basis.
The company’s Nagapattinam refinery’s expansion from 1 MMPTA to 10 MMTPA at a cost of Rs 27,000 crores could be expected soon, the union minister said, seeking the state government’s speedy clearances on the project.
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