June refinery output rises 4.7% YoY

June refinery output rises 4.7% YoY

New Delhi: Indian refiners processed 4.7% more crude in June from a year ago, the seventh consecutive monthly rise, with the pace of growth picking up slightly from May on improved output from private refineries.

Domestic refiners processed 3.454 million barrels per day (bpd) of crude oil in June, when combined crude throughput of private refineries was down an annual 0.8 percent versus a dip of 4.4% in May, government data showed on Monday.

Reliance Industries , whose two refineries at Jamnagar in western Gujarat state account for about a third of India’s refining capacity, does not report data for its 580,000 bpd export-focused plant to the government.

Output at Reliance’s bigger 660,000 bpd plant fell an annual 1.5% during the month while that of Essar Oil’s 280,000 bpd Vadinar refinery, also in Gujarat, turned positive compared with May and inched up 0.8% from a year ago.

The government statement did not specify any reason for the lower crude processing by private refiners.

Throughput of state refiners rose an annual 7.1% in June when global refining margins weakened and a hydrocracker unit was shut at Indian Oil Corp’s biggest 300,000 bpd Panipat plant.

Crude processing by 120,000 bpd Bina refinery in central India, which came onstream earlier this year, has not so far been included in the data.

The country’s crude oil output during the month rose 7.7%, dragging from May’s 9.6% growth, to about 773,500 bpd due to low production from the country’s biggest producer Mumbai High fields.

India, the world’s fourth-biggest crude importer, produces only a fraction of its overall needs.

Natural gas output declined 11.7% to about 3.97 billion cubic metres in June from a year ago as output from the Reliance-operated D6 block in the east coast declined after touching about 60 million cubic metres per day.