IndianOil INDMAX refining technology licensed to European company NIS
Indian Oil Corporation Limited’s (IOCL’s) INDMAX refining technology has been licensed to Naftna Industrija Srbije (NIS) of Serbia for production of higher value products.
Lummus Technology Inc, USA, is the global licensing partner for IOCL’s INDMAX technology.
An IndianOil statement said that this is the first ever overseas agreement to licence IndianOil’s INDMAX refinery process technology for high propylene production.
An agreement for the same has been signed between NIS and Lummus, an IOCL statement said.
NIS is one of the largest vertically integrated oil & gas companies in Southeast Europe, with the Russian oil and gas conglomerate, Gazprom Neft (GPN), as its major shareholder.
