Indian Oil plans foray into petrochemical production in US

摘要

IN order to take advantage of shale gas & oil boom in the US, Indian Oil Corporation Ltd (IOCL) is reportedly looking at entering petrochemical manufacturing in that country. "The company is interested in downstream petrochemical plant in the US and is holding exploratory talks with companies who are in process of setting up crackers or petrochemical units," said an IOCL official in Mumbai without disclosing the size of the investment. IOCL is keen on having a stake in an upcoming project, which is still in the planning or is yet to reach financial closure stage.