New Delhi, Dec 18 () After creating ripples in the domestic refining sector, state-owned Indian Oil Corporation’s (IOC) state-of-the-art INDMAX refining technology has been selected by a Serbian oil and gas company for production of higher value products from crude oil.
The first-ever overseas agreement to licence the refinery process technology for high propylene production was signed between Naftna Industrija Srbije (NIS) of Serbia and Lummus Technology Inc, USA, in the presence of IOC Chairman Sanjiv Singh and S S V Ramakumar, director (R&D) at Belgrade, Serbia, according to a company statement.
“This breakthrough has opened up new vistas for expanding the global footprint of the ‘Make in India’ product,” it said.
It said INDMAX refining technology, with Lummus Technology Inc as the global licensing partner, has been selected through a global tender by NIS.
