Indian Oil Corporation Ltd. (NSE: IOC) conducted auction of RPC (Raw Petroleum Coke) from its Digboi refinery in Assam exclusively for consumers within the State, on 31 May’19.
Details are enumerated below:
| Refinery | Product | Offer Quantity (MT) | Allocated Quantity (MT) | Reserve Price (INR/MT) | Bid Price (INR/MT) |
| Digboi | RPC Sulphur < 1.25%, (Gr A) | 5,550 | 5,550 | 15,400 | 15,400 |
Thus, the entire offered quantity of 5,550 MT was sold out at a reserve price of INR 15,400/MT.
Market participants informed that three consumers located in Assam viz. Digboi Carbon, India Carbon and Carbon Resources had bidden for the full quantity.
Notably, this was the second round of pet coke auction for intrastate consumers announced by IndianOil in the month of May.
On 10 May’19, a similar auction was conducted initially for Within State consumers and the leftover quantity of 39,300 MT was auctioned on 15-16 May’19 for Outside State consumers.
The reserve price in the current auction was reduced by INR 3,820/MT in line with expectations, from INR 19,220/MT in the previous auction.
The refinery-wise total allocated quantity was as follows:
| Refinery | Product | Offer Quantity (MT) | Allocated Quantity (MT) | Reserve Price (INR/MT) | Bid Price (INR/MT) |
| Barauni | RPC Sulphur < 1.25%, (Gr A) | 9,150 | 5,000 | 20,580 | 20,580 |
| Bongaigaon | RPC Sulphur < 1.25%, (Gr A) | 21,000 | 12,700 | 19,810 | 19,810 |
| Digboi | RPC Sulphur < 1.25%, (Gr A) | 5,700 | 150 | 19,220 | 19,220 |
| Koyali | RPC Sulphur > 1.25%, (Gr B) | 3,500 | 500 | 19,060 | 19,060 |
| Total | 39,350 | 18,350 |
In the abovementioned auctions—
- Rain CII had received 6,000 MT from Bongaigaon refinery and 3,000 MT from Barauni.
- Sanvira Industries received 3,000 MT from Bongaigaon and 2,000MT from Barauni.
- Goa Carbon received 2,000 MT from Bongaigaon for their Paradip unit.
Apart from these, small consumers from Chhattisgarh and Gujarat also received allocations.
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