Petroleum and additives are important constituent of theIndian petrochemical industry. The petroleum additives are used in lubrication fluids and fuels. In order to do away with storage problems and improve the working of petroleum products, various kinds of petroleum additives are mixed with heavy oils.
The various petroleum additives have distinctive functions such as oxidation stability, detergency,antiwear property, dispersancy, corrosion and rust inhibition. It is for these functions that it is added to the lubricants.
- Commercial diesel engine oil
- Motor oil
- 2- stroke engine oil
- Railroad oil
- Marine diesel oil
- Gear oil
The industry of petroleum and additives is growing at a fast pace. This industry is highly organized for they are only a handful of companies. The reason for this is that the petroleum and additives industry is technology intensive and so requires a lot of capital investment. The prices of petroleum and additives is dependent totally on the international market. As a result of which its prices are highly volatile. Even when it is not economically justifiable, the producers are forced to match the prices with the international market.
The major companies producing petroleum and additives inIndia are:
- Bharat petroleum corporation ltd
- IBP company ltd
- Apex synthetics ltd
- Videocon petroleum ltd
- Guvenler petrol ltd
The sale of petroleum and additives have increased over the years. That it continues to grow at a even faster pace, steps must be taken by the petrochemical industry ofIndia and the government ofIndia.
Last Updated on 13 December 2011