Petrochemical production is oil refineries' future, according to Petroleum Secretary M.S. Srinivasan, as petrochemicals would help to increase margins and play a stabilising role in a cyclical industry. He has urged Indian refiners to get their act together before governmental protection disappears. Margins for petrochemicals are higher compared to the margins for diesel and petrol, hence it made economic and technical sense for the refineries to integrate petrochemical production. Also, demand for petrochemicals was witnessing a sustained double digit growth.
28-Mar-07 
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