India’s crude oil refinery output up 5.6% in May 2017

India’s crude oil refinery output increased 5.6% to 20.90 million tonnes (mt) in May 2017 over May 2016. The output of public sector refineries improved 8.0% to 11.77 mt, while the output of private refineries jumped 15.1% to 8.54 mt. However, the refinery output of public-private JV refiners dipped 60.3% to 0.59 mt in May 2017.
Among public refineries, the output of Indian Oil Corporation increased 12.1% to 5.95 mt, while the output of Numaligarh Refineries moved up 8.7% to 0.26 mt, Chennai Petroleum Corporation 6.9% to 0.85 mt, and Mangalore Refineries 6.7% to 1.16 mt in May 2017 over May 2016. Further, the output of Hindustan Petroleum Corporation also increased 3.6% to 1.46 mt and Bharat Petroleum Corporation 1.7% to 2.08 mt in May 2017.

Among private refiners, the output of Reliance Petroleum surged 20.9% to 6.86 mt, while that of Essar Oil declined 3.6% to 1.69 mt in May 2017 over May 2016. Among JV refineries, the output of Bharat Oman increased 3.2% to 0.59 mt, while the output of HPCL Mittal dipped to nil in May 2016.

The cumulative refinery output increased 2.8% to 40.20 mt in April-May 2017. The output of public refineries increased 4.3% to 22.15 mt, while that of private refineries moved up 7.6% to 16.20 mt. The refinery output of JV refineries fell 34.3% to 1.85 mt in April-May 2017. Among public refineries, the output of Indian Oil Corporation improved 8.9%, Numaligarh Refineries 8.7% and Mangalore Refineries 6.2%, but that of Hindustan Petroleum Corporation declined 0.4%, Bharat Petroleum Corporation 0.7% and Chennai Petroleum Corporation 8.0%.

The overall capacity utilization was higher at 104.8% in May 2017 compared with 102.4% in May 2016, while it was nearly flat at 104.4% in April-May 2017 compared with 104.6% in April-May 2016.
Source: Capital Market