IOC raises refinery operations to 60 pc capacity, plans to scale up further by month-end

Indian Oil Corp (IOC), the country's largest oil firm, has raised operating levels at its refineries to about 60 per cent after fuel demand showed a gradual pick up on easing of lockdown restrictions.

In a statement, IOC said it plans to scale up refinery operations to 80 per cent of design capacity by the end of the month.

IOC and other refiners had scaled down run-rate at their refineries after a nationwide lockdown that shut factories and businesses and halted most of vehicular, rail and air travel, evaporating fuel demand.

"With the demand for petroleum products gradually picking up, IOC has re-started several process units at its refineries that were down due to the lockdown," it said.

"With throughputs gradually picking up pace, the refineries are currently operating at about 60 per cent of their design capacities with plans to scale up to 80 per cent of the design levels by the end of the month."