IOC expects 100% refinery run within a quarter as fuel demand returns
Indian Oil Corp (IOC), the nation’s largest oil firm, expects refinery run to reach 100 per cent within a quarter as fuel demand returns, its chairman SM Vaidya said.
Speaking at India Energy Forum by CERAWeek, he said petrol and cooking gas LPG demand is already above pe-COVID levels and diesel – the most consumed fuel in the country – is inching back to normalcy.
“Energy demand is rebounding in India with the revival of economic activity” after a devastating pandemic, he said.
India’s energy demand had halved after a nationwide lockdown was imposed in late March last year. But with gradual easing of restrictions, economic activity has rebounded.
