IOC plans 1.2-lakh bpd refinery in Turkey
By Our Corporate Bureau | 25 Nov 2005
New
Delhi: Indian
Oil Corporation is planning to build a 120,000-barrel
per day refinery in Turkey with Calik Enerji. This was
announced by, IOC chairman S Behuria in New Delhi. The
refinery project is likely to be executed by a special
purpose vehicle, where IOC will pick up an equity stake,
he said.
He disclosed that the MoU with Calik was expected to be signed in early December, on the sidelines of a bilateral meeting between Hilmi Guler, Turkey''s energy minister and his Indian counterpart, Mani Shankar Aiyar. According to Behuria, the MoU is expected to finalise the details of the refinery. Calik Enerji and IOC will also try to bid jointly for oil in third countries. IOC is also keen to enter the retail petroleum sector in Turkey added.
Calik was IOC''s partner in an unsuccessful bid for a stake in another Turkish refinery Tupras recently.