The crude oil throughput of IndianOil refineries rose to 100 per cent in November, as consumption of all petroleum products has almost reached pre-Covid levels. A company statement said the figure was 88 per cent in October, and 99 per cent for the same period last year.

“As the Indian economy prepares to bounce back, IndianOil has gradually raised the throughput of its refineries to the maximum capacity in six months from about 55 per cent of rated capacity at the beginning of May 2020,” the statement said.

“During November, the sale of petrol was 1.06 million tonnes (mt), which is 4 per cent higher as compared to the same period last year. In the case of LPG, the demand has gone up by approximately 1.4 per cent to 1.09 mt as compared to the corresponding period last year. On the other hand, although diesel has registered a growth of 2 per cent as compared on a month on month basis, it is still 9 per cent less when compared on a year-on-year basis. Aviation Turbine Fuel (ATF) has also registered a growth of 4 per cent as compared to October 2020 but is still 45 per cent less when compared on a year-on-year basis,” the statement added.

The demand for black oils and speciality products like fuel oil, bitumen, petcoke and sulphur, is also improving enabling an increase in throughput of refineries, IndianOil said.

Commenting on this increased demand for petroleum products, IndianOil Chairman, SM Vaidya, said: “As we get closer to the Covid-19 vaccine roll-out, the fundamentals of the economy being strong, we see a rapid V-shaped recovery in the overall consumption of petroleum products. All our project sites too are witnessing a revival in terms of construction activities.”

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