Indian Oil expects refineries to operate at full capacity by July-end

NEW DELHI: Indian Oil’s refineries will likely start operating at full capacity by the end of next month, Shrikant Madhav Vaidya, the head of refineries at Indian OilNSE -0.69 %, has said.

Average run rate at Indian Oil’s refineries has reached 90%, up from 45% in the first week of April, as fuel demand recovers following the easing of lockdown across the country.

Fuel demand is expected to reach pre-Covid levels by the end of the year, Indian Oil Chairman Sanjiv Singh said.