Signs MoUs For Selling LNG
OUR CORPORATE BUREAU
Mumbai, Nov 6: IOC, along with its other partners in Petronet Liqu-efied Natural Gas (LNG) has signed memorandums of understanding with Chambal Fertlisers and National Fertilisers for selling LNG. Dr Kannan said that a major part of the LNG would be utilised by IOC at its refinery while the remaining would be sold to the customers.He added IOC was also in talks with Tata Power for LNG.
The company would launch flagship (RO) which will sell branded diesel and petrol under the Xtra Premium Hi-Octane petrol and Xtra Miles Super diesel. There would be 1,000 such ROs which would act as brand ambassadors, informed Dr Kannan. The company is also launching fleet card for its customer.
IOC, which is commissioning a storage facility at Mer Rouge in Mauritius is now expanding its business to ROs.
Dr Kannan said that IOC has decided to set up 10 ROs in the first phase of which ground work for six ROs have been completed. The number of the ROs would be increased to 25 in the second phase.
IOC is also trageting Dubai and Malaysia for sale of lubes. The company is also setting up a lubes blending plant at Dubai, said Dr Kannan. IOC is also exploring Africa and Russia as its new destination for lube sale.
The company will also take a call on whether to continue with its Jubilee ROs. Dr Kannan informed that about 10 to 12 of the 89 Jubilee ROs were not being utilised properly and hence the company may decide to close them down.
Meanwhile, IOC has tied up with Hyundai, whereby Hyundai will provide breakdown services and spares for Hyundai customers at IOC ROs.