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Indian refiners’ throughput recovery loses steam in December

Indian refiners’ crude oil throughput dipped slightly in December due to unit shutdowns at some refineries and as a rapid spread of the Omicron variant of the coronavirus shadowed fuel demand outlook.

Crude oil throughput in December dipped 3% to 5.08 million barrels per day (21.48 million tonnes) from the previous month, but was 2.2% higher on an annual basis, provisional government data showed on Wednesday.

Indian refiners operated at an average rate of 101.2% in December, below November’s 104.6%, but up from 99.1% in the same month last year, data showed.

Refineries can operate at more than their usual capacity through technical alterations.

Top refiner Indian Oil Corp (IOC) (IOC.NS) last month operated its directly owned plants at 99.74% capacity. Reliance, owner of the world’s biggest refining complex, operated its plants at 95.46% capacity in December.
Source: Reuters

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