Crude Facts

India’s consumption of petroleum products was 165 MMT in 2014-15, out of which 135 MMT was refined by the government owned refining companies while the balance would have gone to the private refiners – RIL and Essar.

Also, the gross refining margins (GRM) of the government owned companies are on decline, while that of the private companies are on rise or stable. Even when compared with the European and Singapore markets, the GRM of private Indian refiners are much higher.