IOC s refineries were operating at about 95 per cent of their capacity in late April.
The top state oil refiners are reducing processing runs and crude imports as the surging COVID-19 pandemic has cut fuel consumption, leading to higher product stockpiles at the plants, company officials told Reuters on Tuesday. Indian Oil Corp, the country s biggest refiner, has reduced runs to an average of between 85 per cent and 88 per cent of processing capacity, a company official said, adding runs could be cut further as its plants at Gujarat, Mathura and Panipat are facing problems storing bitumen and sulphur.
IOC s refineries were operating at about 95 per cent of their capacity in late April. We do not anticipate that our crude processing would be reduced to last year s level of 65 per cent-70 per cent as inter-state vehicle movement is still there . (the) economy is functioning, he said.
IOC, BPCL, Hindustan Petroleum cut output, imports amid COVID-induced low fuel demand
Indian Oil Corp, the country s biggest refiner, has reduced runs to an average of between 85% and 88% of processing capacity, a company official said
Reuters | May 11, 2021 | Updated 16:06 IST
India s top state oil refiners are reducing processing runs and crude imports as the surging COVID-19 pandemic has cut fuel consumption, leading to higher product stockpiles at the plants, company officials told Reuters on Tuesday.
Indian Oil Corp, the country s biggest refiner, has reduced runs to an average of between 85% and 88% of processing capacity, a company official said, adding runs could be cut further as its plants at Gujarat, Mathura and Panipat are facing problems storing bitumen and sulphur.
Indian oil refiners cut output, imports as pandemic hits demand
India’s top oil refiners are reducing processing runs and crude imports as the surging COVID-19 pandemic has cut fuel consumption, leading to higher product stockpiles at the plants, company officials told Reuters on Tuesday.
Indian Oil Corp, the country’s biggest refiner, has reduced runs to an average of between 85% and 88% of processing capacity, a company official said, adding runs could be cut further as some plants are facing problems storing refined oil products.
IOC’s refineries were operating at about 95% of their capacity in late April.
“We do not anticipate that our crude processing would be reduced to last year’s level of 65%-70% as inter-state vehicle movement is still there … (the) economy is functioning,” he said.
Oil refiners cut output, imports as pandemic hits fuel demand
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Sales in May could be about 5% lower than April, says HPCL Chairman Surana
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Sales in May could be about 5% lower than April, says HPCL Chairman Surana
India’s top oil refiners are reducing processing runs and crude imports as the surging COVID-19 pandemic has cut fuel consumption, leading to higher product stockpiles at the plants, company officials told Reuters on Tuesday.
Indian Oil Corp., the country’s biggest refiner, has reduced runs to an average of between 85% and 88% of processing capacity, a company official said, adding runs could be cut further as some plants are facing problems storing oil products.
India offers to lift regular Saudi oil volumes in June after May cuts: sources
Indian state refiners placed orders for regular supplies from Saudi Aramco for June, after reducing purchases this month, drawn by lower prices by the world’s top oil exporter, four sources said.
The refiners – Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp and Mangalore Refinery and Petrochemicals Ltd – normally buy 14.8 million-15 million barrels of Saudi oil a month.
“This time there is no direction from the ministry to cut imports in June and unlike last time they (Aramco) have reduced the prices as well,” said one of the sources.