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Saturday, December 20, 2014

India's crude oil refinery output surges 8.1% to 19.21 million tonnes in November 2014

Refinery production declines 0.5% to 147 mt in April-November FY2015 

India's crude oil refinery output jumped at 20-months high pace of 8.1% to 19.21 million tonnes (mt) in November 2014 over a year ago, in addition to healthy 4.2% increase posted in the previous month. The output of public sector refineries surged 10.7% to 10.31 mt. Meanwhile, the output of private refineries galloped 5.5% to 7.4 mt, while that of public-private JV refiners improved 4.2% to 1.49 mt in November 2014. 

Among the public refineries, the output of Indian Oil jumped 8.3% to 4.54 mt, while the output of Chennai Petroleum improved 15% to 0.894 mt in November 2014 over November 2013. The output of Hindustan Petroleum surged 17.9% to 1.405 mt. Further, the output of Bharat Petroleum also jumped 10% to 1.989 mt, while that of Mangalore Refineries shot up 15.8% to 1.252 mt. However, the output of Numaligarh Refineries declined for fourth straight month at 12.1% to 0.226 mt. 

Among the JV refineries, Bharat Oman recorded 9.1% increase in the output to 0.59 mt, while the output of HPCL Mittal increased 1.2% to 0.90 mt in November 2014 over a year ago. 

Among the private refiners, the output of Essar Oil rebounded 26.6% to 1.7 mt after four months of decline, while that of Reliance Petroleum improved 0.5% to 5.71 mt. 

The cumulative refinery output declined 0.5% to 147 mt in April-November FY2015 over a year ago. The output of public refineries rose 1.3%, but that of private refineries as well as JV refineries declined. Among the public refineries, Bharat Petroleum, and Mangalore Refineries recorded a decline in refinery output, while the output of Indian Oil, Chennai Petroleum, Hindustan Petroleum and Numaligarh Refineries increased. 

The overall capacity utilization was higher at 108.64% in November 2014 and it was slightly lower at 102.25% in April-November FY2015, compared with 100.5% in November 2013 and 102.78% in April-November FY2014, respectively.
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