Indian State Refiners Operate At Maximum In Jan, Feb

Indian state-controlled refiners continued to operate their refineries at maximum nameplate amid strong domestic fuel demand, market participants close to the refiners told Argus.

• BPCL's 310,000 b/d Kochi, 240,000 b/d Mumbai and 156,000 b/d Bina refineries, MRPL's 300,000 b/d refinery in Mangalore, and HPCL's 190,000 b/d Mumbai and 166,000 b/d Visakhapatnam refineries operated at maximum or over 100% of their nameplate capacities in January and have maintained this utilisation rate in February.
• Refiners are currently focused on maximising the output of motor fuels owing to firm domestic demand, potentially indicating that output of other oil products would be restricted to nameplate capacity.
• Meanwhile, the country's consumption of gasoline and diesel grew at the fastest pace in five years in January amid firm domestic economic activity, oil ministry data show.