Indian refiners processed 2.5% less oil in July compared to June, the first monthly fall since April, as renewed restrictions due to rising coronavirus cases stalled recovery in fuel sales in the world’s third-largest domestic market. Processing by Indian refiners in July, by comparison, was down 18.8 per cent from a year earlier to 4.18 million barrels per day (bpd) or 17.68 million tonnes, the government data released on Tuesday showed. Indian refiners operated at about 83.3 per cent of their overall capacity in July compared to 85.4 per cent in June, the data showed. Top refiner Indian Oil Corp (IOC) operated its directly owned plants at 90.6% capacity, the data showed. Reliance, the owner of the world`s biggest refining complex, operated its plants at about 74 per cent capacity.

Source: dna August 25, 2020 15:33 UTC