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Indian Oil reaches 100% capacity in Nov for 1st time since COVID-19

Indian Oil Corp, the country's top refiner, operated of its 9 plants in November at 100% capacity for the first time since February, to meet rising local fuel demand, it said in a statement on Thursday. IOC previously operated its directly-owned plants at full capacity ahead of a nationwide lockdown enforced from late March to combat the COVID-19 pandemic. India's fuel demand has been recovering from the lows seen in April with a gradual pick up in the industrial and economic activity after the lockdown was eased.Along with its subsidiary Chennai Petroleum Corp, IOC controls about a third of the 5 million barrels per day refining capacity in India, where fuel demand in October rose by 2.5%, its first year-on-year rise in eight months.

News source ~ News18