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Indian Oil’s petrochemicals business reports rise in sales; PP project approved

2:49 AM MDT | May 30, 2014 | Deepti Ramesh

The petrochemicals business of Indian Oil (New Delhi) reports a 22.4% increase in sales in the fiscal fourth quarter ended 31 March 2014, compared with the year-ago quarter, to 53.55 billion Indian rupees ($907 million). The business also reports a 15.9% increase in sales for the full fiscal year ended 31 March compared with the previous fiscal year, to Rs181.3 billion. Earnings figures for the petrochemicals business have not been disclosed. Indian Oil’s petrochemical production volume increased 2% during the full fiscal year, to 2.11 million m.t. Indian...

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