Indian refineries run hard despite demand downturn

Indian refineries run hard despite demand downturn

Mumbai, 21 January (Argus) — Most of India's state-controlled refineries have operated at maximum capacity so far this month, undeterred by a drop in domestic transport fuel demand.

BPCL has been operating its 310,000 b/d Kochi, 240,000 b/d Mumbai and 156,000 b/d Bina refineries at 100pc of nameplate capacity and sometimes higher, while MRPL has also been running its 300,000 b/d refinery in Mangalore at maximum levels, market participants close to the refiners told Argus. Likewise, HPCL's Mumbai refinery, where capacity was expanded to 190,000 b/d last year, and its 166,000 b/d Visakhapatnam (Vizag) refinery have been at 100pc nameplate capacity or above.

IOC bucked the trend. Its refinery utilisation rate has been around 93-97pc, pushed down by reduced runs at the 161,000 b/d Haldia refinery following a fire last month. Haldia has been operating at around 50pc, market participants said.