Corona impact: 24% drop in Reliance crude processing

by Jeremy Spirogis
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new Delhi: Reliance Industries Limited reduce crude oil processing by near one-quarter at its export-only refinery in Jamnagar, Gujarat in March. Because gas consumption has slowed as a consequence of coronovirus, the oil firm has reduce manufacturing. According to information launched on Thursday by the Ministry of Petroleum and Natural Gas, RIL's 35.2 million tonnes yearly SEZ refinery processed 2.51 million tonnes of crude oil in March, falling 24 p.c year-on-year.

However, the corporate's outdated refinery on the identical website processed 5.7 p.c extra crude oil at 3.01 million tonnes. The refiners started reducing again on crude processing in late March, adopted by a nationwide lockdown following the first-ever state-imposed restrictions that included gas demand on 25 March. <! –

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                 Fuel demand in international locations the place Indian refineries have exported merchandise resembling diesel and petrol has additionally stalled as a result of outbreak of the epidemic.

Public sector refineries in India processed about four p.c much less gas in March. Private sector Naira Energy's Vadinar refinery in Gujarat has additionally reduce crude oil processing by an analogous proportion. The information confirmed that RIL's SEZ refinery operated at 83.98 p.c capability in March, in comparison with 110.51 p.c capability utilization in the identical month a 12 months in the past. Its outdated refinery, which caters primarily to the home market, has 101.67 per cent of its capability of 33 million tonnes every year.

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