Refiners rake in big profits from exports even as volumes shrink
New Delhi: India’s refiners exported nearly 10% less diesel and petrol in 2022-23 than in the previous year although they gained in value terms, making 26% more in dollar and 35% more in rupee terms, helped by high global prices and a depreciated rupee.
It came amid reports last year that the country’s refiners were doubling down on exports to serve Europe, which was shunning Russian fuel.
