2/7/2011

IndianOil may build USD 5 billion refinery in Turkey

Reuters - IndianOil Corp. (IOC) is interested in building a USD 5 billion refinery in Turkey and is currently carrying out feasibility work on the project, India's junior Trade Minister, Jyotiraditya Scindia, said on Friday.

IOC and India's Oil and Natural Gas Corp. (ONGC) are interested in exploring for oil and natural gas in Turkey, Scindia also told reporters.

IOC "is looking at setting up a 15 million ton refinery company in Turkey," said Scindia, referring to the volume of crude oil a facility could process in a year. "They are evaluating the feasibility of this."
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turkey; india; energy industry; indianoil; ioc; oil refinery; Jyotiraditya Scindia