Rampant Virus Forces Partial Shutdown At Indian Oil Refiner
- MRPL trims refining rates by 15%; lockdowns crimp fuel use
- Top cities Mumbai, New Delhi struggle with surging infections
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India’s Mangalore Refinery and Petrochemicals Ltd. has cut oil processing rates and will likely have to make an unplanned shutdown at one of its crude units as a deadly second Covid-19 wave pummels fuel demand.
The company reduced its refining capacity by 15% to 1.1 million tons in April and could trim rates even further next month, according to a person familiar with the matter, asking not to be identified as the information isn’t public. The rapidly spreading virus has already had an impact on demand, with fuel sales from the largest retailers sliding during the first half of this month.