Page 17 - AsianOil Week 44 2020

AsianOil NEWS IN BRIEF AsianOil

SOUTH ASIA disposal, thus improving the ambient air For the second quarter of FY 2020-
quality. 21, IndianOil’s product sales volumes,
IndianOil inks MoU INDIANOIL, October 30, 2020 including exports, was 18.899 million
tonnes. The refining throughput was 13.969
with IISc, Bangalore for IndianOil financial million tonnes and the throughput of
the Corporation’s countrywide pipelines
hydrogen generation performance H1 2020-21 network was 17.347 million tonnes during
the same period.”
IndianOil has inked an MoU with the IndianOil reported Revenue from Operations INDIANOIL, October 30, 2020
Indian Institute of Science, Bangalore of Rs 2,04,686 crores for the first half of
(IISc) to develop and demonstrate biomass Financial Year 2020-21 as compared to Rs Cairn Oil & Gas appoints
gasification-based hydrogen generation 2,82,514 crores in corresponding period of
technology. The process will help produce Financial Year 2019-20. The Net Profit for Prachur Sah as deputy CEO
fuel cell grade hydrogen at an affordable price the six months ended 30th September 2020 is
and accelerate IndianOil’s journey towards a higher at Rs 8,138 crores as compared to Rs Cairn Oil & Gas, a vertical of Vedanta
sustainable hydrogen economy. 4,160 crores during the corresponding period Limited, and India’s largest private oil and gas
Welcoming the initiative, Chairman, mainly on account of higher inventory gain exploration and production company, has
IndianOil Mr. S M Vaidya, said that this and exchange gains during current period. announced the appointment of Prachur Sah
collaboration will be a step forward in The Revenue from Operations of as its Deputy Chief Executive Officer. Prachur
the generation of green hydrogen and IndianOil is Rs 1,15,749 crores in Q2 2020- Sah earlier held the role of Director – New
strengthen the promising foray made by 21 as compared to Rs 1,32,377 crores in Ventures and spearheaded the company’s
IndianOil’s R&D teams in the hydrogen the corresponding quarter of FY 2019-20. expansion efforts under the Open Acreage
economy landscape. Hydrogen will emerge The Net Profit for the second quarter of FY Licensing Policy (OALP) rounds.
as the ultimate solution for a sustainable 2020-21 is Rs 6,227 crores as compared to Prachur brings over two decades of rich
energy future, he added. Rs 563 crores in the corresponding quarter experience in the energy sector and joined
Giving details about the MoU, Dr. SSV of FY 2019-20 which is due to higher Cairn Oil & Gas in 2018 from Schlumberger
Ramakumar, Director (R&D), said that inventory gain and exchange gains during where he was the Managing Director –
IndianOil and IISc will jointly work for the current quarter against inventory losses in India & Bangladesh. An alumni of IIT
optimization of both biomass gasification corresponding quarter of last year. Bombay, he has worked in several countries
and hydrogen purification processes. IndianOil Chairman, Mr. S. M. Vaidya, including South Asia, Middle East and
The technology will be scaled-up and said, “IndianOil sold 35.403 million tonnes Latin America and brings with him a deep
demonstrated at IndianOil’s R&D Centre at of products, including exports, during the understanding and experience of the oil and
Faridabad. The Hydrogen generated from first six months of financial year 2020-21. gas business.
the plant will be used in fuel cell buses as Our refining throughput for first six months In his new role, Prachur will lead
part of the Corporation’s larger aspiration to of FY 2020-21 was 26.899 million tonnes the next phase of growth for Cairn
usher in hydrogen economy in the country. and the throughput of the Corporation’s towards delivering volumes, cost, growth
This move will be another step by the countrywide pipelines network was 32.364 projects, rewards and recognition and
Fortune 500 energy company to bring million tonnes during the year. The gross early monetization (new blocks), while
hydrogen fuel into India’s mainstream refining margin (GRM) during the first maintaining highest levels of safety,
energy matrix while utilizing the agrarian half of year 2020-21 was US$ 3.46 per sustainability and governance. He will
strengths of the country. The technology bbl as compared to US$ 2.96 per bbl in be supported in his endeavours by the
will provide cleaner energy option for India corresponding period of previous financial Management Committee of Cairn Oil & Gas
and address the challenge of waste biomass year. comprising of Sai Subramanian - Project
Director, Alistair Bent - Head R&R and
Biswanath Ghosh - Head – OALP, and will
report to the Group CEO, Vedanta.
CAIRN OIL & GAS, October 20, 2020

SOUTHEAST ASIA

MISC takes delivery of its

first VLEC

MISC has taken delivery of its first Very Large
Ethane Carrier (VLEC) at the Samsung Heavy
Industries (SHI) shipyard in Geoje, South
Korea. Seri Everest is the first from a series of
six VLECs that MISC purchased in July 2020.
Concurrently, MISC had also entered into
Time Charter Parties (TCPs) with Zhejiang
Satellite Petrochemical Co. Ltd. (STL), for the

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