Indian Oil Corporation Ltd. (NSE: IOC), the country’s second-largest producer of petroleum coke, has decreased its pet coke prices from various refineries, with effect from 11 Jun’19.
Panipat refinery’s general price is revised to INR 7,830/MT from INR 8,010/MT, a decrease of INR 180/MT. Price for Punjab, Haryana, Jammu and Kashmir, Chandigarh is revised to INR 8,600/MT from INR 8,630/MT, a decrease of INR 30/MT.
Petcoke price for export to Nepal and Bhutan is revised INR 8,350/MT from INR 8,340/MT, an increase of INR 10/MT.
Paradip refinery’s price for road supplies is revised to INR 7,850/MT from INR 8,030/MT, a decrease of INR 180/MT. The price for rake supply is revised to INR 7,550/MT from INR 7,730/MT, also a decrease of INR 180/MT.
However, IOC has maintained pet coke prices at its Koyali refinery. Pet coke price ex-Koyali refinery transported by road is INR 8,130/MT. The price of pet coke transported by rake is also maintained at INR 7,930/MT.
Price Commentaries
State-run IndianOil has typically followed the decreasing price trend set by Reliance Industries (RIL) for its Panipat and Paradip refineries, but the reduction is comparatively lower than that of RIL for the current month.
Price at Koyali has been maintained for the second consecutive month. The reason for not reducing the price, in spite of price reduction by RIL in last two months by INR 250/MT and Rs 200/MT respectively, is possibly due to lower stock availability amid robust demand. The price for rake supply is lower by INR 200/MT than the price applicable for road supplies.
At Panipat, the difference in pet coke price for Punjab, Haryana, Jammu and Kashmir, Chandigarh remains higher by INR 600/MT, as compared to the general price for other states.
At Paradip, IOC has been declaring rake price separately, after commissioning of rake facility on 29 Nov’18. The price for rake supply is lower by INR 300/MT than the price applicable for road supplies.
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