News Release Details
Gail may tie up with BPCL for petrochem, E&P
New Delhi 25-Sep-2007
Gail India, which has recently announced its plan to become a Rs-50,OOQ-crore company, on Monday said that it would explore all options for strategic cooperation with the Bharat Petrochemicals Company Ltd (BPCL) . Gail India, which has already announced its plans to set up petrochemicals project in India and abroad, may look in to the prospects of tying up with BPCL whose combined refinery throughput at Mumbai, Kochi and Numaligarh refineries stood at 22.28 million metric tonne in 2006-07. The company may also explore the option of an alliance with BPCL for exploration and production. Gail India chairman and also pursuing city managing director gas distribution choubey on Monday told FE, projects in 230 "I will have a maiden meeting cities in India, tonight with the BPCL CMD abroad Ashok Sinha to explore opportunities of strategic cooperation." Choubey declined to give further details though his first meeting with BPCL supremo is crucial, especially when Gail India has already worked out a strategy to pursue its interests in the petrochemicals sector-both in India and abroad. In the petrochemicals sector tunne 2006-07, Gail India's production of polymer has increased by 14% registering 3.54 lakh MT as against 3.11 lakh MT in the previous year. The polymer sales increased by ll% during the year under review. As far as BPCL is concerned, the company is implementing the6MMTPArefinery at Bina and it has also firmed up plans to setup crude oil receipt at Kochi refinery. Choubey said, "Gail India is currently in the midst of dialogue with various players from the petrochemicals business in lndia and also abroad. "However, I am not in a position to name these companies as the discussion has to reach to a finality stage." Moreover, Gail India has filed an expression of interest to set up city gas distribution (CGD) network in Libya. "The company has also filed Eol to lay a trunk pipeline of 4,000km which will go up to Italy with a private firm from Libya and also the Libyan government
New Delhi 25-Sep-2007
Gail India, which has recently announced its plan to become a Rs-50,OOQ-crore company, on Monday said that it would explore all options for strategic cooperation with the Bharat Petrochemicals Company Ltd (BPCL) . Gail India, which has already announced its plans to set up petrochemicals project in India and abroad, may look in to the prospects of tying up with BPCL whose combined refinery throughput at Mumbai, Kochi and Numaligarh refineries stood at 22.28 million metric tonne in 2006-07. The company may also explore the option of an alliance with BPCL for exploration and production. Gail India chairman and also pursuing city managing director gas distribution choubey on Monday told FE, projects in 230 "I will have a maiden meeting cities in India, tonight with the BPCL CMD abroad Ashok Sinha to explore opportunities of strategic cooperation." Choubey declined to give further details though his first meeting with BPCL supremo is crucial, especially when Gail India has already worked out a strategy to pursue its interests in the petrochemicals sector-both in India and abroad. In the petrochemicals sector tunne 2006-07, Gail India's production of polymer has increased by 14% registering 3.54 lakh MT as against 3.11 lakh MT in the previous year. The polymer sales increased by ll% during the year under review. As far as BPCL is concerned, the company is implementing the6MMTPArefinery at Bina and it has also firmed up plans to setup crude oil receipt at Kochi refinery. Choubey said, "Gail India is currently in the midst of dialogue with various players from the petrochemicals business in lndia and also abroad. "However, I am not in a position to name these companies as the discussion has to reach to a finality stage." Moreover, Gail India has filed an expression of interest to set up city gas distribution (CGD) network in Libya. "The company has also filed Eol to lay a trunk pipeline of 4,000km which will go up to Italy with a private firm from Libya and also the Libyan government