As petro demand declines IOC cuts refinery throughput
Hindu, Delhi   26-Mar-2020

India’s largest fuel retailer Indian Oil Corporation (IOC) has cut down the throughput from its refineries across the country by almost 30% as the demand for petroleum products such as petrol, diesel, aviation turbine fuel (ATF), fuel oil and bitumen, has reduced substantially following the outbreak of COVID-19 in the country.

“Keeping this (falling demand) in view, Indian Oil has regulated crude oil throughput at most of its refineries by 25% to 30%,” said IOC in a statement.

“Offtake of finished products from refiners in the last one week has helped upcountry bulk storage locations of the Corporation build up their stocks for future-readiness once the countrywide lockdown is lifted and the demand picks up again.

“The Corporation is keeping a close watch on global cues and the changing market scenario and initiating action accordingly, IOC said.

In the midst of a reduction in demand for major petroleum products, there has been an increase in demand for LPG cooking gas.

Optimising operations

“To meet the rising demand for LPG, Indian Oil is taking steps to increase LPG production at its major refineries by optimising operations, improving LPG yield in LPG-producing units like FCC/Indmax, etc. Bottling plant operations and LPG refill deliveries are being streamlined accordingly,” said IOC, adding adequate stocks were available and there was no need for panic-booking by customers.