Indian refiners cut runs as fuel demand dips, margins fade – ZAWYA

SourceZawya
SectorOil & Gas
CountryUnited Arab Emirates

Indian refiners cut runs as fuel demand dips, margins fade Bharat Petroleum Corp is operating its three refineries at about 70% capacity    A boy walks past an oil tanker train stationed at a railway station in Ghaziabad, on the outskirts of New Delhi, India, February 1, 2019. REUTERS/Anushree FadnavisNEW DELHI - Indian refiners are cutting crude processing and shutting units for maintenance as local fuel demand falls and global refining margins are weak, officials at the companies said.Fuel demand in Asia's third largest economy had been rising since May from historic lows in April, when a nation-wide lockdown to stem the spread of the novel coronavirus was enforced.In July, however, local demand growth has slowed because of high fuel prices, renewed lockdown in parts of the country and as...read more...