Reliance Industries Ltd has minimize crude oil processing at its exports-only refinery at Jamnagar in Gujarat in March by near one-fourth because it joins public sector oil corporations in slicing run-rate to align manufacturing with a coronavirus-induced droop in gasoline consumption.
RIL’s 35.2 million tonnes a 12 months SEZ refinery processed 2.51 million tonnes of crude oil into gasoline in March, a drop of 24 per cent year-on-year, based on information launched by the Ministry of Petroleum and Natural Gas on Thursday.
However, the corporate’s older refinery on the similar website processed 5.7 per cent extra crude at 3.01 million tonnes.
Refiners began to chop down on crude processing solely within the latter half of March after journey restrictions first imposed by states adopted by a nationwide lockdown starting March 25 evaporated gasoline demand.
Fuel demand in nations the place Indian refiners exported merchandise like diesel and petrol has additionally stalled following the outbreak of the pandemic. Public sector refineries in India processed nearly Four per cent much less gasoline in March. Private sector Nayara Energy’s Vadinar refinery in Gujarat too minimize crude processing by an analogous proportion.
The information confirmed that RIL’s SEZ refinery operated at 83.98 per cent capability in March, as in comparison with 110.51 per cent capability utilisation in the identical month a 12 months again.
Its previous refinery, that caters predominately to the home market, operated at 101.67 per cent of its 33 million tonnes a 12 months capability. PSU refineries operated at 101 per cent of their put in capability as they used low cost crude to fill depots and storage bunks.
RIL’s twin refineries at Jamnagar produced 4.16 per cent extra petroleum merchandise in March at 7.Three million tonnes. Nayara Energy produced 3.33 per cent fewer petroleum merchandise at 1.64 million tonnes whereas PSU refineries produced nearly 2 per cent much less product at 11.95 million tonnes.
Overall, Indian refineries processed 5.7 per cent much less crude oil at 21.2 million tonnes in March and produced 22.9 million tonnes of petroleum merchandise.
Prime Minister Narendra Modi had introduced a 21-day lockdown starting March 25, shutting workplaces and factories, barring these concerned in important companies. Also, flights had been suspended, trains stopped plying, autos went off the highway and cargo motion stopped as most individuals had been requested to remain house to assist examine the unfold of coronavirus.
The lockdown has been prolonged until May 3. In March 2020, the nation’s petroleum product consumption fell 17.79 per cent to 16.08 million tonnes. Diesel, essentially the most consumed gasoline within the nation, noticed demand contract by 24.23 per cent to five.65 million tonnes. This is the most important fall in diesel consumption the nation has recorded as most vans went off-road and railways stopped plying trains.
Petrol gross sales dropped 16.37 per cent to 2.15 million tonnes, whereas ATF consumption fell 32.Four per cent to 4,84,000 tonnes. However, LPG gross sales rose 1.9 per cent to 2.Three million tonnes in March.
April consumption is more likely to be worse with petrol gross sales collapsing 64 per cent, whereas diesel slumping by 61 per cent. Aviation turbine gasoline (ATF) consumption dropped by 94 per cent as most airways have stopped flying.