Indian Oil Corporation Ltd. (NSE: IOC) has conducted auctions of RPC (Raw Petroleum Coke) from its various refineries on 7th & 8th Feb’19, wherein the entire offered quantity of 52,500 MT was sold out.
Refinery-wise detailed breakup is enumerated as follows:
| Refinery | Quantity Offered (MT) | Quantity Sold (MT) | Reserve Price (INR/MT) | Highest Bid Price (INR/MT) |
| Barauni Refinery (Gr.A) | 20,750 | 20,750 | 22,840 | 22,840 |
| Barauni Refinery (Gr.B) | 2,350 | 2,350 | 22,340 | 22,340 |
| Bongaigaon Refinery (Gr.A) | 20,000 | 20,000 | 22,070 | 22,070 |
| Guwahati Refinery (Gr.A) | ||||
| Digboi Refinery (Gr.A) | 5,600 | 5,600 | 21,480 | 21,480 |
| Koyali Refinery (Gr.B) | 3,800 | 3,800 | 21,320 | 22,000 |
| Total/Average | 52,500 | 52,500 | 22,010 | 22,146 |
Notably, the auction was conducted for intrastate customers only, as per terms and conditions set by IOC, in line with guidelines from the Ministry of Petroleum and Natural Gas (MOP&NG) issued during 2012.
Accordingly, several calciners participated in the auctions from the states of Bihar, Assam and Gujarat for the refineries located in the respective states.
It is observed that there has been no increase in bid over floor price at the refineries situated in Bihar and Assam, where large number of major calciners are located near refineries.
However, there has been an increase of approximately 3% in bid price over reserve price at the Koyali oil refinery located near Vadodara in Gujarat.
IndianOil has not offered any pet coke from its Guwahati refinery due to shut down of Delayed Coker Unit (DCU).
The successful bidders are required to uplift their allotted quantities within 45 days.
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