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Tuesday, June 24, 2014

India's crude oil refinery output falls 2.3% in May 2014

Overall capacity utilization was lower at 99.5% during May 2014 as well as at 99.6% in April-May FY2015 

India's crude oil refinery output declined for second straight month at 2.3% to 18.182 million tonnes (mt) in May 2014, as per the data released by Ministry of Petroleum and Natural Gas. Public sector refineries recorded sharp 7.8% dip in the output to 9.245 mt in May 2014. However, the output of Public-private joint venture refineries moved up 8.2% to 1.308 mt, while that of private refiners rebounded 3.3% to 7.629 mt in May 2014 after two months of decline. 

Among the public refineries, the output of Indian Oil dipped 10.7% to 4.294 mt, while the output of Bharat Petroleum also plunged 13.6% to 1.754 mt in May 2014. The output of Hindustan Petroleum declined 8.8% to 0.913 mt, while the output of Chennai Petroleum improved 2.9% to 0.995 mt. Further, the output of Numaligarh Refineries also increased 8.9% to 0.259 mt, while that of Mangalore Refineries inched up 6% to 1.026 mt in May 2014.
Among the JV refineries, Bharat Oman recorded 19.7% surge in output to 0.443 mt, while the output of HPCL Mittal increased 3.1% to 0.865 mt in May 2014. Among private refiners, the output of Essar Oil declined 0.7% to 1.74 mt, while that of Reliance Petroleum increased 4.6% to 5.889 mt in May 2014. 

The cumulative refinery output rose declined 2% to 35.816 mt during April-May FY2015. The output of public refineries declined 2.8%. Among the public refineries, Indian Oil, Bharat Petroleum, Hindustan Petroleum, Chennai Petroleum and Mangalore Refineries recorded decline in refinery output, while the output of Numaligarh Refineries increased in April-May FY2015. 

The overall capacity utilization was lower at 99.5% during May 2014 as well as at 99.6% in April-May FY2015, compared to 101.9% in May 2013 and 101.7% in April-May FY2014.
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