InvestorQ : Is it true that the refinery output of IOCL and BPCL are sharply down in the month of April 2020?
Crowny Pinto made post

Is it true that the refinery output of IOCL and BPCL are sharply down in the month of April 2020?

Answer
user profile image
3 months ago


You can blame it on the sharp fall in fuel consumption due to the lockdown in April. India’s refinery output for April 2020 fell by 29% just 14.7 million tonne (MT) from 20.7 MT in April 2019. Natural gas production in April 2020 was 19% lower at 2,161 MMSCM. Natural gas output fell as a number of large customers invoked force majeure clauses and these included the city gas distributors. Consumption of petrol and diesel also fell by 40% and hence refineries were forced to bring down their capacity. Production from IOCL refineries were down 45% at 3 MT, BPCL was down 38% while HPCL was down 21%. The same was the case with natural gas too. ONGC saw its natural gas production fall by 15% to 1,725.69 MMSCM while natural gas production by OIL also dipped 10% on a YOY basis.


user profile image
preetam lenka answered.
3 months ago


Yes..... U can check as well....in money control app..... Market is still going down.... This is a right time to invest for perfect profit..... But for long term investment only!!