India’s state-owned refineries lift runs in December

India’s state-owned refineries lift runs in December

Mumbai, 20 December (Argus) — Indian state-controlled refineries continued to operate at higher rates this month in anticipation of an increase in fuel demand in the coming months, market participants close to the refiners told Argus.

The country's transport fuel demand rose on the month and on the year in the first half of December, but diesel and jet fuel use remained below pre-pandemic levels. On the other hand, gasoline consumption in the first half of December surpassed 2019 levels as preference for personal vehicles over private transport remained robust.

State-owned IOC, India's biggest refiner by capacity, has been running its refineries at a combined rate of about 95pc this month as its 161,000 b/d Haldia refinery has been undergoing a partial planned shutdown, market participants said.