BP’s global heritage in PTA goes back over 50 years and its commitment to continuous improvement through innovation, capability, operational excellence, safety and customer support has kept it at the forefront of the industry. In India, BP has entered an agreement to license its latest generation purified terephthalic acid (PTA) technology to Indian Oil Corporation Limited (IndianOil) for its refinery cum petrochemicals complex on the east coast of India, at their Paradip Refinery in the state of Odisha.
BP continues to explore further licensing opportunities in India for advantaged PX and PTA technologies.
India is one of the largest markets for Acetic Acid in the world and meets more than 85% of its requirements through imports. BP through its joint ventures in Asia continues to meet a large part of this demand. BP has over 30% market share in the country. We also continue to explore opportunities to serve our Indian customers with local supply, using our proprietary technology and commercial solutions.
IST continues to be among the top trading companies in terms of volume of import / export of crude oil and other petroleum products with public and private oil companies in India.