India’s falling diesel sales signal there is little hope for a V-shaped economic recovery

19 Aug 2020-New Delhi: For a glimpse into the impact of rolling lockdowns and sputtering factory sales on Asia’s second-biggest oil importer, look no further than India’s fuel purchasing patterns. The sale of diesel — the country’s most-used fuel and a proxy for its economic health — slumped 20% in the first half of August…

Oil refineries reduce processing

19 Aug 2020-New Delhi: The Covid-19 demand destruction has begun to hit Indian refiners with almost all entities further reducing crude processing or going in for unexpected maintenance shutdowns to remain afloat and protect margins. Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) operated three of its refineries at about 70 per cent capacity in July and…