Demand grows for racing fuel, IOCL expects surge in export
Indian Oil Corporation
Ltd's
Gujarat Refinery
in Vadodara played a crucial role in the international event by supplying its high-performance
STORM racing fuel
— the first of its kind produced in India.
"We began manufacturing
racing fuel
about a year and a half ago in response to growing demand. Until then, this fuel had to be imported, as no one in India was producing it," said Biplob Biswas, executive director and head of the Gujarat Refinery. "Apart from Thailand, our STORM fuel has also been used at two other racing events in India."
Officials added that while a few more orders are in the pipeline, the majority of the racing fuel is currently exported. "We are considering supplying to western markets as well, but for now, production is based on confirmed orders," Biswas told TOI on Wednesday.
In addition to racing fuel, Gujarat Refinery has also made strides in aviation energy, producing and exporting AVGAS 100 LL — a fuel that was previously imported. IndianOil has shipped AVGAS to Papua New Guinea, Sri Lanka, and Indonesia, and it is also used by the Indian armed forces.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around
Blinkist: Andrew Ng's Reading List
Undo
The refinery is now eyeing a broader role in the petrochemical sector through its Petrochemical and Lube Integration Project (LuPech).
"With a projected investment of Rs 17,825 crore, LuPech will boost the refinery's capacity from 13.7 MMTPA (million metric tonnes per annum) to 18 MMTPA," Biswas said, outlining the refinery's ambitions of becoming a key petrochemical hub.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
29 minutes ago
- Time of India
Andhra govt deposits Rs 7,000 each to 47 lakh farmers under 'Annadatha Sukhibhava' scheme
The Andhra Pradesh government-led by N Chandrababu Naidu on Saturday deposited Rs 7,000 each to 47 lakh farmers as part of the ' Annadatha Sukhibhava ' scheme, which offers Rs 20,000 financial aid to farmers per annum. Launching the Rs 3,174 crore statewide initiative, the CM handed over cheque to two farmers as a symbolic gesture and another Rs 29 crore specific to Darsi constituency , according to a video link shared by the government. Explore courses from Top Institutes in Please select course: Select a Course Category Operations Management Management PGDM Degree MCA others Digital Marketing Finance Project Management Cybersecurity Leadership healthcare MBA Others Data Science Healthcare Product Management Data Science Data Analytics Artificial Intelligence Public Policy Design Thinking CXO Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details Naidu disbursed the first tranche of funds at East Veerayapalem village of Darsi mandal in Prakasam district. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Rates Out of the Rs 7,000 credited to lakhs of farmers today, Rs 5,000 came from the southern state while the remaining Rs 2,000 was offered by the central government as part of the PM-Kisan scheme . Clubbing the Centre's contribution of Rs 6,000 under PM-Kisan and the state's contribution of Rs 14,000, the southern state aims to disburse Rs 20,000 per annum to eligible farmers under 'Annadatha Sukhibhava'- 'PM Kisan' scheme in three installments. Live Events The NDA government in the state has allocated Rs 2,343 crore for the first installment while the Centre provided Rs 831 crore. 'Annadatha Sukhibhava' is a poll promise made by Naidu in the run-up to the 2024 polls and is part of the 'Super Six' set of election promises, which assured three free cooking gas cylinders per annum, Rs 15,000 per annum for every school-going child, Rs 1,500 monthly financial aid for women between 19 and 59 years and others.
Time of India
41 minutes ago
- Time of India
Dr Ambedkar's philosophy of socio-economic equality will guide future generations: CJI Gavai
Nagpur: Chief Justice of India (CJI) Bhushan Gavai on Saturday said the philosophy of socio-economic equality and justice propagated by Dr B R Ambedkar will guide generations to come. Speaking at the diamond jubilee function of Dr Ambedkar College here, Gavai said he has tried to imbibe the ideology of socio-economic justice throughout his life. Explore courses from Top Institutes in Please select course: Select a Course Category Others Data Science healthcare Project Management Digital Marketing Leadership Artificial Intelligence Product Management Degree Healthcare Finance Operations Management Public Policy Design Thinking Technology Management MCA CXO Cybersecurity MBA Data Analytics PGDM Data Science others Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT-ISB Transforming HR with Analytics & AI India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 9 months IIM Lucknow SEPO - IIML CHRO India Starts on undefined Get Details The progress and development of women is a yardstick to gauge a society's progress, he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo "It is heartening to see that female students of Dr Ambedkar College have fulfilled the criteria," he said. CJI Gavai said women's empowerment is a true tribute to Dr Ambedkar, and his ideology needs to be propagated. Live Events "Dr Ambedkar always said there is a difference between an eminent and a great person. An eminent person is one who is successful personally, but works for the welfare of society and the country," he said. Gavai said apart from his parents, he also owed his rise to become the CJI to Dr Ambedkar's ideology of socio-economic equality, justice, and the Indian Constitution . "If you are committed to achieving success, Dr Ambedkar's ideology and the Indian constitution will help you," he said. Speaking on the occasion, Maharashtra Chief Minister Devendra Fadnavis also congratulated Dr Ambedkar College and hailed the contribution of former governor of Bihar and Kerala, late RS Gavai and his CJI Bhushan Gavai to the institution's development.
Time of India
an hour ago
- Time of India
Mark Zuckerberg meets 24-year-old AI researcher who rejected Meta's $125 million job offer, and then ...
Mark Zuckerberg and Meta's aggressive push to lead the AI race has reportedly led to a recruitment of a 24-year-old AI researcher . According to a report by The New York Times, Matt Deitke initially rejected Meta's $125 million offer, prompting Zuckerberg to meet him personally. After the meeting, Meta sealed the deal with a revised four-year compensation package reportedly worth up to $250 million in stock and cash. Citing two sources familiar with the talks, the New York Times report noted that Deitke preferred to continue with his newly founded startup, Vercept after $125 million was offered to him. Zuckerberg personally reached out to him for a meeting. After their conversation, Meta returned with a revised offer that doubled the original, including a potential $100 million to be paid in the first year alone. The compensation jump was so extraordinary that Deitke consulted with his peers, many of whom ultimately urged him to accept the deal. Who is Matt Deitke and why he is 'in demand' The report says that Deitke is a highly sought-after talent in the AI community. He previously led the development of Molmo – an AI chatbot that can process images, sounds and text – a multi-modal system that aligns with Meta's goals. His work on 3D datasets and embodied AI earned him an Outstanding Paper Award at NeurIPS 2022, a top honour given to only a dozen researchers out of more than 10,000 submissions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Hate Unclear Trade Tips? You're Not Alone Teji Mandi Buy Now Undo In November, Deitke co-founded his own startup, Vercept, which focuses on AI agents that can autonomously perform tasks using internet-based software. The startup, with about 10 employees, raised $16.5 million from investors, including former Google CEO Eric Schmidt . According to the report, Meta has reportedly spent over $1 billion to build an 'all-star roster' for its "superintelligence" research team. This includes luring away AI talent from rival firms like OpenAI, Anthropic, Apple and Google. Recently, Meta hired Ruoming Pang , the former head of Apple's AI models team, with a compensation package reportedly exceeding $200 million to join Meta's Superintelligence Labs team. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
