India Raises Refinery Output By 9% In September

25 Oct 2016   India

Essar tank truck Monsoon torrents and regional civil disturbances did not affect India’s hunger for fuels last month, with local refineries processing 4.82 million barrels per day, up 9.27 percent on the year, according to preliminary government data cited by Reuters. The increase highlights India’s booming fuel demand as well as efforts from state-owned downstream majors to satisfy it, yet the country still relies on imports for 80 percent of its fuel demand. This puts it at a disadvantage to other huge consumers, as its local crude oil production is disproportionately small, at 712,800 bpd in September, down 4.09 percent on the year. Asia’s fastest-growing economy took a breather in September, as fuel demand declined by 0.8 percent on the year to 3.82 million bpd due to heavy rains and what Platts called “regional unrest,” regarding water-sharing rights in two states in southern India, Karnataka and Tamil Nadu. However, […]

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