Home » CMIE expects output from refineries to rise upto 7%

CMIE expects output from refineries to rise upto 7%

CMIE expects output from refineries to rise upto 7%

Centre for Monitoring Indian Economy (CMIE) expects output of petroleum refiners to rise between 3-7 percent in the remaining three months of 2012-13.

In a recent report, the research body said the refiners may process around 18.5 million tonne of crude oil in each of the remaining months of fiscal 2012-13.
For the year 2012-13, throughput may grow 5.4 percent to 215.7 million tonne, it said.

In December 2012, refineries across the country processed nearly 2 percent more crude oil at 18.54 million tonne, from 18.18 million tonne in November 2012, the report says.

The December throughput came very close to the record high monthly level of 18.72 million tonne totted up in October 2012, a month which also saw significant uptick in economic sentiment fuelled by festival demand.

During December 2012, Reliance Industries, India’s largest private sector refinery, processed 5.83 million tonne of crude oil, at a utilization level of 116 percent of its refining capacity, said the report.

But on account of a high base the year-on-year growth in throughput in December 2012 was still just 2.5 percent, said the report.

The report finds improvement in utilisation levels in December as refiners operated their plants at an average of 102.5 percent compared to 100.5 percent in November 2012.

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