Indian refiners processed 3.2 mn barrels of crude oil a day in May,
almost flat from the same month a year ago as higher runs at the
expanded Essar Oil plant offset lower fuel production by state firms.
Output at Indian Oil Corp's Mathura refinery was down 12 pc from the
same month a year ago because of an emergency shutdown at some of its
units, while at Hindustan Petroleum Corp's Mumbai refinery output fell
82 pc due to planned maintenance.
For details on Asian refinery maintenance Essar processed 250,000 bpd
in May, almost twice as much as a year ago, after it raised processing
and offered the output in the domestic market.
Refineries in Asia's third-largest consumer processed 3.2 mn barrels
per day last month, when margins for simple Asian refiners were at
minus $1.22 a barrel.
India raised fuel prices by about 10 pc in the first week of June but
the increase was far short of what state refiners needed to meet the
rising cost of crude. Analysts say demand is expected to keep growing,
helping refiners process more.
India plans to add 2.14 mn bpd of refining capacity by 2012 to its
existing 2.98 mn bpd, and expects domestic demand for oil products to
grow at a compounded annual growth rate of 2.9 pc to 132 mn tonnes by
2012.
Processing at India's biggest refinery, Reliance Industries Ltd's
660,000 bpd export-oriented Jamnagar plant, rose 1.3 pc from a year
ago. Crude oil output, which meets 30 pc of domestic demand, was up
3.2 pc at 687,600 bpd in May compared with a year earlier.
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