India’s Oil Tanks Are 95% Full as Refiners Hastily Dump Fuel
- Fuel demand decimated as over a billion people in lockdown
- Consumption will not bounce back quickly enough: BPCL director
This article is for subscribers only.
India is quickly running out of space to store a swelling stockpile of fuel as every possible container -- including those in the 66,000 pump stations nationwide -- threatens to overflow.
Refiners in India, the world’s third-biggest oil consumer, have filled 95% of about 85 million barrels of fuel storage capacity, according to officials at three state-owned processors. The virus-inflicted lockdown of more than a billion people has pummeled India’s appetite for key transportation fuels as travel and movement remains restricted in large swaths of the world’s second-most populated country.