Essar Oil has signed a purchase pact with IndianOil and renewed a product sale. The new agreement which is from 2012 to 2015 will witness Essar supply as much as two million tonnes of diesel, petrol, kerosene and aviation turbine fuel to IOC annually. The supply will happen from its Vadinar refinery.

Essar Oils offshore platform e1322665428744 Essar and IOC Product Sale Pact Renewed

Essar in turn will buy products from IOC and both companies hope to share their retail infrastructure. For a fact this is Essar’s largest fuel supply contract. The company has similar contracts with Bharat Petroleum Corporation and Hindustan Petroleum Corportation.

Mr S. Thangapandian, CEO (Marketing), Essar, said, “Once the ongoing expansion project is completed, our Vadinar refinery will be able to serve our PSU customers better.”

Mr Karandikar, GM-Supplies, IOC, said with the rapid growth in petroproduct demand coupled with additional capacity from the Vadinar refinery, the company was looking forward to increasing its offtake.

 

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