{"id":375136,"date":"2020-09-25T08:48:19","date_gmt":"2020-09-25T03:18:19","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=375136"},"modified":"2020-09-25T09:36:42","modified_gmt":"2020-09-25T04:06:42","slug":"with-fuel-demand-falling-indian-oil-bets-on-plastics-to-cushion-the-blow","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/with-fuel-demand-falling-indian-oil-bets-on-plastics-to-cushion-the-blow\/","title":{"rendered":"With fuel demand falling, Indian Oil bets on plastics to cushion the blow"},"content":{"rendered":"<p>India\u2019s biggest oil refiner is betting on plastics as it seeks to diversify from an increasingly challenging fuels business. <\/p>\n<p>Indian Oil Corp. plans to add petrochemical plants to all of its future refinery expansions and boost existing output at its current facilities, Chairman Shrikant Madhav Vaidya said. Overall, less than 10% of the crude processed by the refiner is used to make petrochemicals &#8212; the building blocks for everything from food packaging to car parts &#8212; but the business contributes almost a quarter of the company\u2019s profits, he added. <\/p>\n<p>While there is consumer and government pressure across the world to reduce the use of plastics, processors in Asia are building or planning petrochemical plants with demand for transport fuels set to ease in the years ahead.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s biggest oil refiner is betting on plastics as it seeks to diversify from an increasingly challenging fuels business. Indian Oil Corp. plans to add petrochemical plants to all of its future refinery expansions and boost existing output at its current facilities, Chairman Shrikant Madhav Vaidya said. Overall, less than 10% of the crude processed by the refiner is used to make petrochemicals &#8212; the building blocks for everything from food packaging to car parts &#8212; but the business contributes almost a quarter of the company\u2019s profits, he added. While there is consumer and government pressure across the world to [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-375136","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/375136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=375136"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/375136\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=375136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=375136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=375136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}