Indian Oil Aims To Operate Refineries At 90 Per Cent Capacity In June

Indian Oil Corp controls about a third of India's 5 million barrels per day (bpd) refining capacity, is operating its plant at about 83 per cent capacity, a sharp increase from 39 per cent at the beginning of April.

By Carandbike Team

1 mins read

Published on June 10, 2020

Highlights

Indian Oil Corp aims to operate its refineries at an average 90% capacity
Fuel demand has recovered with the easing of a coronavirus lockdown
Right now, IOC is operating its plant at about 83% capacity

Indian Oil Corp, the country's top refiner, aims to operate its refineries at an average 90 per cent capacity in June as fuel demand recovers with the easing of a coronavirus lockdown, the company said on Wednesday. IOC, which along with subsidiary Chennai Petroleum Corp, controls about a third of India's 5 million barrels per day (BPD) refining capacity, is operating its plant at about 83 per cent capacity, a sharp increase from 39 per cent at the beginning of April. Currently Indian Oil is operating its plant at about 83 per cent capacity, a sharp increase from 39 per cent at the beginning of April Refiners in Asia are cranking up runs as the lifting of lockdown restrictions is pushing up fuel demand. India's fuel consumption in May increased significantly from April. IOC said in a statement it was operating its naphtha cracker at Panipat refinery at full capacity as several downstream petrochemical industries have resumed operations. The company said it was on track to spend the approved capital expenditure of Rs. 26,143 crore ($3.46 billion) for 2020-21.