Business Daily from THE HINDU group of publications
Thursday, May 31, 2007
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Business Daily from THE HINDU group of publications Thursday, May 31, 2007 ePaper |
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Industry & Economy
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Petroleum Refiners process 15% more crude in April Our Bureau
New Delhi May 30 Refiners such as IndianOil and Bharat Petroleum processed 15.1 per cent more crude in April from a year earlier. This was because of addition of capacity and units running at higher rates to gain from rising global refining margins. Refiners processed 12.528 million tonnes (mt) of oil into fuels in April compared to 10.88 mt in the corresponding previous period, according to Petroleum Ministry data. According to industry, growth in April has been highest since November last year, when refinery throughput was up 16.4 per cent. The refinery utilisation rate in April stood at 102.3 per cent of capacity, down from 104 per cent in the same month in the previous year. The refinery figures are based on a survey of 17 State-owned refineries and one private refiner. IOC's output increased 28 per cent in April to 4.01 mt, while BPCL processed 1.57 mt, 7.3 per cent more than earlier.
RIL output unchanged
Output at RIL remained unchanged at 3.03 mt, while HPCL processed 1.25 mt, 10 per cent less. The country produced 2.79 mt of crude in April, or 6,81,690 barrels a day, up 1.45 per cent from the same month last year. This was two per cent more than the Government's target of 2.73 mt. India imports around 76 per cent of the crude it processes. It is the country's largest import item in dollar terms. The country's natural gas output fell by 4.7 per cent to 2.55 billion cubic metres in April.
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