Indian refiners' October crude processing up over 3% y/y
Adds details and comments
Nov 22 (Reuters) -Indian refiners' throughput in October rose over 3% year-on-year to 5.04 million barrels per day (21.3 million metric tons), provisional government data showed on Friday.
"As exports didn’t rise m/m (month-on-month) the refinery increase is the result of higher domestic demand, which still benefits from solid economic growth in India," said UBS analyst Giovanni Staunovo.
India's crude oil imports rose about 3.9% in October to 19.52 million metric tons on a monthly basis, while total product exports plunged over 22%, government data showed.
India, the world's third-biggest oil importer and consumer, saw demand rising by 2.9% year-on-year in October to 20.04 million tons, oil ministry data showed earlier this month, driven by strong economic activity.
Meanwhile, India's monthly intake of Russian oil increased by 3.3% in October to a three-month high of 1.95 million barrels per day (bpd), accounting for about two-fifths of overall imports, data provided by trade sources show.
The country's state-run Hindustan Petroleum Corp Ltd HPCL.NS is looking at raising its annual crude import deal with Iraq to 100,000 barrels per day (bpd) in 2025, up about 43% from this year, a company source said.
REFINERY PRODUCTION IN TERMS OF CRUDE THROUGHPUT (in 1,000 tons):
October-24 | October-23 | April-October 2024-25 | |
Actual | Actual | Actual | |
IOCL, Barauni | 576 | 503 | 3,895 |
IOCL, Bongaigaon | 254 | 258 | 1,509 |
IOCL, Digboi | 71 | 66 | 449 |
IOCL, Gujarat | 1,357 | 1,279 | 9,284 |
IOCL, Guwahati | 110 | 0 | 730 |
IOCL, Haldia | 364 | 674 | 3,371 |
IOCL, Mathura | 42 | 853 | 4,450 |
IOCL, Panipat | 1,353 | 1,300 | 8,845 |
IOCL, Paradip | 1,273 | 722 | 7,772 |
BPCL, Bina | 686 | 710 | 4,392 |
BPCL, Kochi | 989 | 1,544 | 9,628 |
BPCL, Mumbai | 1,419 | 740 | 9,261 |
HPCL, Mumbai | 879 | 898 | 5,575 |
HPCL, Vaisakh | 1,185 | 1,010 | 8,554 |
CPCL, Manali | 705 | 1,007 | 5,633 |
NRL, Numaligarh | 272 | 286 | 1,706 |
MRPL, Mangalore | 1,486 | 1,355 | 10,305 |
ONGC, Tatipaka | 6 | 5 | 39 |
HMEL, Bhatinda | 1,102 | 1,104 | 7,643 |
RIL, Jamnagar | 2,843 | 2,925 | 20,336 |
RIL, SEZ | 2,587 | 1,595 | 18,077 |
Nayara, Vadinar | 1,746 | 1,726 | 11,964 |
TOTAL | 21,303 | 20,562 | 153,418 |
Source: Ministry of Petroleum and Natural Gas
IOC: Indian Oil Corp IOC.NS
BPCL: Bharat Petroleum Corp Ltd BPCL.NS
HPCL: Hindustan Petroleum Corp Ltd HPCL.NS
CPCL: Chennai Petroleum Corp Ltd CHPC.NS
MRPL: Mangalore Refinery and Petrochemicals Ltd MRPL.NS
Reliance Industries Ltd RELI.NS
Please note that CPCL's CBR refinery is de-commissioned under shutdown due to limitation in meeting required product specifications with the existing configuration.
Reporting by Sherin Elizabeth Varghese and Anjana Anil in Bengaluru. Editing by Mark Potter
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
