NEW DELHI 12 May 2021: India’s top state oil refiners are reducing processing runs and crude imports as the surging COVID-19 pandemic have 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 percent 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 percent of their capacity in late April.
Anupreet Kaur