The 1.8 million tonnes a year full steam ethylene cracker and linked downstream units to be build at Vadinar in western Gujarat state would cost $8 billion-$9 billion and would be completed in five years.
Profit before tax dropped during the quarter leading to loss of Rs. 1.18 crore.
Net revenue for Q1 FY 2020-21 is down by 45% to reach Rs. 241.17 crore.
Both parties will jointly develop, sell and supply a product line of best in class ultra low NOx burners for the global oil processing and petrochemical industries.
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The renewable diesel will be sourced from a refinery acquired by Global Clean Energy in Bakersfield, California
Capacity expansion will come on-stream during August.
Revenue from operations recorded a dip at Rs 14,073 crore during the 2019-20 fiscal, compared with Rs 18,511 crore in the previous year.
The country plans to launch 17 petrochemical projects by the end of the current Iranian calendar year, which ends on March 20, 2021.
The company said that the crude throughput for the quarter was significantly lower due to lower demand for petroleum products on account of Covid-19 pandemic.
Acquisition will help meet the growing demand for alkoxylates in the APAC market, especially in China.
With a planned capacity of 7,200 metric tons per day (m.t./d), the methanol plant will be the largest single train methanol plant in the world once completed.
The simplified guidelines aim at increasing private sector participation in the marketing of petrol and diesel.
Both sales and bottom-line were impacted as a result of COVID-19
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The PX-PTA complex shall be integrated with IndianOil’s Paradip Refinery, which is operational from 2015 and will be completed by early 2024.
The company is also in the process of submitting bids for Oil India and ONGC tenders.
Decline due to lower price realizations with disruptions in local and regional markets amid Covid-19 outbreak.
Lower crude oil price and lower throughput key reasons for revenue decline.
The decline in revenue was primarily due to fall in O2C revenues, led by sharp decline of 57.6% in average Brent crude price.
The collaboration will jointly address technologies to propagate use of biofuels in variety of applications including usage in internal combustion engines (ICE) in the transportation sector.
The company said it intended to issue the new bond within the next 12 months.
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