India plans massive VLSFO boost

Malcolm Latarche

Malcolm Latarche · 17 January 2020


Indian Oil Corporation is planning a major boost in VLSFO production and expects to raise output to over one million tonnes in 2020, a report in Reuters has said.

The Reuters report quotes Chairman Sanjiv Singh as saying that India’s largest state-run refiner will boost low sulphur bunker fuel output this year and aims to produce more than 1 million tonnes of “very low sulphur” marine fuel in 2020.

Indian Oil, which is buying oil from the US via spot tenders and annual deals, will explore an annual deal for purchase of oil from Russia, Singh is reported as saying. Reuters also said that the company, which is looking to raise funds, is considering monetising some of its assets and will decide whether to bid for state-run Bharat Petroleum Corp after examining tender details.

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