Adnoc in race to partner IOC in refinery project

PRESS TRUST OF INDIA

NEW DELHI, October 11: The Abu Dhabi National Oil Company (Adnoc) is among the four foreign oil companies in race to partner the state-owned Indian Oil Corporation (IOC) for erecting the nine million tonne southern Indian refinery. Adnoc has shown interest in joining the project which IOC plans to execute in partnership with another state-owned oil company Madras Refineries Ltd (MRL), IOC chairman and managing director, MA Pathan said here.

Malaysia's national oil company Petronas and Trinidad and Tobago's oil firm Petrotrin have also shown keen interest in joining the project. But no final decision has been taken in selecting the foreign partner, Pathan said. He said that the detailed feasibility report for the project estimated to cost Rs 8,000 crore at current prices has already been submitted.

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