Projects
with investment cost of Rs.472 crore
to enhance the capacity of CPCL’s
Manali Refinery from 9.5 MMTPA to 10.5
MMTPA and Naphtha Hydro-treating (NHT)/Catalytic
Reforming Unit (CRU) Revamp for increasing
petrol production, will be commissioned
by early 2010. CPCL would supply the
upgraded Euro IV quality auto fuels
to the market by April 2010 for which
a project costing Rs.2615 crore is under
implementation. This was announced by
Mr S. Behuria, Chairman, IndianOil Group
Companies, at the company's 43rd Annual
General Meeting (AGM) held in Chennai
today (07.09.09).
CPCL’s
new initiatives in projects include Resid
Upgradation Project and Single Point Mooring
(SPM). In order to increase the Distillate
Yield of the Refinery and reduce Fuel
Oil production, CPCL proposes to install
a high conversion Resid Upgradation Unit
at an estimated cost of Rs. 3500 Crores
and the project is expected to be completed
by end 2012. CPCL has also decided to
put up a SPM for Crude Oil receipt at
Ennore. The proposed SPM is estimated
to cost Rs.850 crore and it will be erected
off Ennore coast alongwith Crude Oil Terminal
and associated facilities. The proposed
facilities would ensure handling Very
Large Crude Carrier (VLCC) for crude oil
transportation from Middle East countries.
Despite posting a better physical performance
and an improvement in turnover by 11%
from Rs.32,889 crore in 2007-08 to Rs.36,489
crore in 2008-09, CPCL was constrained
to post a net loss of Rs.397.28 crore
during 2008-09. This was mainly due to
unprecedented volatile market conditions
that prevailed from the second quarter
of 2008-09 resulting in adventitious inventory
loss and processing of high cost crude
in a falling market. However, during the
first quarter of 2009-10, CPCL made a
profit after tax of Rs.304.72 crore and
posted a Gross Refinery Margin of US$
6.9 bbl.
