Indian Oil Corporation (IOCL) plans to complete refinery expansions in Panipat, Gujarat, and Barauni by December 2025.

The company is expanding the Panipat Refinery from 15 MTPA to 25 MTPA and the Gujarat Refinery from 13.7 MTPA to 18 MTPA, along with its integration to lube and petrochemical production units. This will increase the capacity of the Barauni refinery to nine MTPA.

The refinery expansions are in line with the nation's aims to raise its refinery capacity to as much as 450 MTPA, from about 249 MTPA, or about five million barrels per day (bpd), currently. In Gujarat, it was initially scheduled for completion by mid-2024, while the Panipat expansion has also been delayed by over a year, owing to global events.

IOCL last year approved the cost increase in the Panipat refinery expansion to about Rs 362.25 billion from the original plan of about Rs 330 billion.