Indian Oil Corporation Ltd. (NSE: IOC), the country’s second-largest producer of petroleum coke, has reduced its pet coke prices from various refineries with effect from 4 Dec’18.
- Koyali price is revised to INR 8,110/MT from INR 8,910/MT, a reduction of INR 800/MT.
- Panipat general price is revised to INR 7,950/MT from INR 9,050/MT, a reduction of INR 1,100/MT. The revised price for Punjab, Haryana, Jammu & Kashmir, Chandigarh is INR 8,450/MT from INR 9,450/MT, a reduction of INR 1,000/MT.
- Paradip price is revised to INR 7,850/MT from INR 8,690/MT, a reduction of INR 840/MT. The rake price is INR 7,550/MT, which is lower by INR 300/MT than price applicable for road supplies.
HPCL-Mittal Energy Ltd. (HMEL) has also reduced its pet coke price from Bhatinda refinery by INR 1,000/MT to INR 9,095/MT from INR 10,095/MT.
Bharat Oman Refineries Ltd. (BORL) has revised pet coke price for rake supplies to INR 11,424/MT from INR 12,289/MT, a reduction of INR 865/MT. The price applicable for road supplies is revised to INR 11,374/MT from INR 12,239/MT.
Price Commentaries
State-run IndianOil has undertaken a drastic price reduction of pet coke, specifically at its Panipat refinery, where the reduction is much sharper than that by Reliance Industries (RIL) w.e.f. 1 Dec’18. This is probably due to high inventory of pet coke at Panipat.
At Panipat, pet coke price for Punjab, Haryana, J&K, Chandigarh, is now higher by INR 500/MT, which was earlier INR 400/MT higher than the general price.
At Paradip, IOC has also declared rake price for the first time, as rake facility has been commissioned recently on 29 Nov’18. Major customers can avail this rake facility as needed.
Overall price reductions by various domestic oil companies in last two months have been to the tune of INR 1,100-1,400/MT. The price reduction in this month has been INR 800-1,100/MT due to reduction of pet coke prices in the international markets coupled with depreciation of US Dollar against Indian Rupee.
Leave a Reply