Indian Oil Corp. Ltd (IOC), the country’s largest fuel retailer, on Thursday said that’s its refineries are operating at 100% capacity.
This assumes importance as the Indian economy has been severely hit by the covid-19 pandemic. Energy consumption, especially electricity and refinery products, is usually linked to overall demand in the economy. The development also comes in the backdrop of other economic indicators such as electricity, GST collections and railway freight registering a recovery.
“The crude oil throughput of Indian Oil refineries rose to 100% in November 2020, as consumption of all petroleum products has almost reached pre-covid. In October 2020 this figure was 88%, and last year for the same period it was 99%,” the country’s largest refiner said in a statement.
