IOC looks for RIL gas for its refineries

New Delhi, July 09: India’s largest oil firm IOC has sought 11.5 mn standard cubic metres per day of natural gas from Reliance Industries’ KG-D6 block for consumption in its refineries. “We have approached RIL for supply of natural gas form their KG Basin Find, basically for captive consumption in our own refineries,” IOC Chairman S Behuria had written in a letter to petroleum secretary M S Srinivasan. Reliance has proposed price for gas which will be find from its KG-D6 block at $5.2


per mBtu (per million British thermal unit), with delivered price ranging between $ 5.2 per mBtu and $ 6.2 per mBtu depending on distance and local taxes. Behuria said IOC’s Koyali refinery in Gujrat immediately needs 0.22 mmscmd of gas and its Mathura refinery another 0.30 mmscmd. From September 2009, Koyali would need 0.47 mmscmd and Mathura 0.34mmscmd while another 1.50 mmscmd would be needed for the naphtha cracker project at Panipat. IOC’s subsidiary Chennai Petroleum Corporation needs 2.80 mmscmd gas from March 2010.





By Saniya Mehra