Top Indian Oil Refiner Betting on Robust Future for Fossil Fuels bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Demand started to recover with the easing of lockdown restrictions, with petrol returning to normal growth first and now diesel too is back at pre-COVID levels
Updated Mar 16, 2021 | 19:29 IST
With airlines not operating all flights, ATF sales remain below normal. ATF may take a quarters time to return to normal, maybe 3-4 months, he said. India fuel sales return to pre-COVID levels | Photo Credit: IANS
New Delhi: India s fuel demand, except ATF, has returned to pre-COVID levels and a reflating economy will help consumption grow in near future, head of the nation s top oil firm said on Tuesday. Fuel sales had fallen by a record 45.8 per cent in April last year when a nationwide lockdown was imposed to check the spread of coronavirus infections. Demand started to recover with the easing of lockdown restrictions, with petrol returning to normal growth first and now diesel too is back at pre-COVID levels.
State-run Indian Oil Corporation (IOC) plans to sell hydrogen generating plants at its oil refineries to monetise non-core assets and leverage operational efficiencies by bringing in domain experts, its Chairman Shrikant Madhav Vaidya said on Tuesday. To begin with, the company will sell its hydrogen generating unit at its Gujarat refinery and based on the experience, may take up units at other refineries, he said. The sale is part of the asset monetisation agenda of the government aimed at generating revenue from selling to private investors unutilised or part utilised assets. These (hydrogen generating units) are already operating units. Now we are trying to leverage the efficiency of operations by handing it over to the licensor of the unit, he said.