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Indian refiners crude processing in May recovers

July 06/2020

MOSCOW (MRC) -- Indian crude oil processing gathered momentum in May, rising by some 7.3% from April to around 3.87 million barrels per day (bpd) as an easing of restrictions on transport and industrial activity boosted fuel demand, reported Reuters.

Compared to last year, Indian refiners crude processing however tumbled by 24.2% in May to 16.35 million tonnes, the data showed.

Fuel consumption, a proxy for oil demand in the worlds third biggest oil consuming nation, totalled 14.65 million tonnes in May, 47.4% higher than in April.

As a result, Indian refiners are already scaling up crude processing like their Asian peers. Indian Oil Corp, the countrys top refiner, aims to operate its plants at about 90% capacity in June.

IOC, along with subsidiary Chennai Petroleum Corp, operated its refineries at an average 69% of designed capacity of 1.6 million bpd, the data showed.

State refiners, which along with their subsidiaries account for about 65% of the countrys 5 million bpd refining capacity, are processing 69% of their installed capacity.

Reliance Industries Ltd, operator of the worlds biggest refining complex, operated its two refineries at 91.7% of their overall capacity of about 1.4 million bpd.

Meanwhile, crude oil production fell 7.1% in May from a year earlier to 2.60 million tonnes, or 615,300 bpd, its biggest decline in five months.

Natural gas output fell 16% to 2.30 billion cubic metres, data showed.

As MRC informed previously, LyondellBasell, the worlds largest licensor of polyolefin technologies, has recently announced that Indian Oil Corporation Ltd. (IOCL) will use the LyondellBasell Spheripol technology for a new facility. The process technology will be used for a 450 KTA polypropylene plant to be built in Panipat, Haryana State, India.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 595,170 tonnes in the first five month of 2020, up by 10% year on year. Deliveries of all ethylene polymers, except for linear low density polyethylene (LLDPE), rose partially because of an increase in capacity utilisation at ZapSibNeftekhim. At the same time, PP shipments to the Russian market was 457,930 tonnes in January-May 2020 (calculated by the formula production minus export plus import). Deliveris of exclusively PP random copolymer increased.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, LLDPE, crude and gaz condensate, PP random copolymer, propylene, ethylene, petrochemistry, Indian Oil Corp, LyondellBasell, Reliance Industries, India, Rossiya.
Category:General News
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