MOSCOW (MRC) -- A Memorandum of Understanding (MoU) was signed between HPCL Mumbai Refinery and BPCL Mumbai Refinery as part of synergy through Purchase and Sale of Hydrogen at a signing ceremony held recently, said Polymerupdate.
Hydrogen is an essential utility required for Hydro treating / Hydro processing of HSD and MS streams to produce HSD and MS specifications as per Bharat Stage VI norms and is vital for reliable and safe refinery operations.
This MoU is one-of-a-kind strategic partnership between two OMCs as a part of synergy for mutual aid during emergencies and towards environmental impact by minimizing valuable hydrogen flaring. This initiative envisages cooperation and collaboration as part of synergy in the areas of hydrogen exchange between both Refineries for sustained refinery operations and uninterrupted product availability.
The MoU was signed by Shri Vijay S Agashe, Executive Director - HPCL Mumbai Refinery and Shri Subramoni Iyer, Executive Director - BPCL Mumbai Refinery, in presence of senior Officials from HPCL and BPCL Refineries.
We remind, Hindustan Petroleum Corp (HPCL) plans to start its 9-MMtpy Barmer refinery and petrochemical project in Rajasthan state by January 2024. India, the third biggest oil importer, is expanding refining capacity to meet rising demand for fuel and petrochemical to power economic expansion. India's per capita petrochemical consumption is about a third of the global average.