Crude oil refinery output declines 0.3% in March 2015

Crude oil refinery output rises marginally by 0.3% in FY2015

India's crude oil refinery output declined 0.3% to 19.331 million tonnes (mt) in March 2015 over a year ago, recording fall for the second straight month. The output of public sector refineries fell 0.8% to 10.998 mt. Meanwhile, the output of private refineries also dipped 1.8% to 6.893 mt, while that of public-private joint venture (JV) refiners increased 12.5% to 1.439 mt in March 2015.

Among public refineries, the output of Indian Oil fell 2.6% to 4.715 mt, while the output of Chennai Petroleum fell 7.3% to 0.933 mt. The output of Hindustan Petroleum also eased 0.2% to 1.552 mt in March 2015 over March 2014. However, the output of Bharat Petroleum increased 0.1% to 2.09 mt, while that of Mangalore Refineries improved 7.3% to 1.521 mt. The output of Numaligarh Refineries also rose 0.2% to 0.184 mt.

Among private refiners, the output of Essar Oil improved 1.1% to 1.754 mt, while that of Reliance Petroleum declined 2.8% to 5.14 mt.

Among the JV refineries, Bharat Oman recorded a 23.6% increase in the output to 0.521 mt in March 2015 over a year ago, while the output of HPCL Mittal moved up 7.1% to 0.918 mt in March 2015 over a year ago.

The cumulative refinery output rose 0.3% to 223.28 mt in the fiscal year ended March 2015 (FY2015) over a year ago. The output of public refineries rose 1.2% and that of private refineries was up 0.4%. However, the output of JV refineries declined 8.1% in FY2015. Among public refineries, the output of Indian Oil, Chennai Petroleum, Hindustan Petroleum, Mangalore Refineries and Numaligarh Refineries rose, while that of Bharat Petroleum declined.

The overall capacity utilization was lower at 105.8% in March 2015 and slightly higher at 103.8% in FY2015 compared with 107.2% in March 2014 and 103.5% in FY2014.

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