Pet Coke: IndianOil to Re-Auction RPC for Outside State Consumers

Indian Oil Corporation Ltd. (IOC), the country’s second-largest producer of petroleum coke, could not conduct the scheduled auction of RPC (Raw Petroleum Coke) for Outside State consumers which was scheduled on 21st May’20, after completing e-auction from its various refineries on 18th May’20 for intrastate consumers.

This was due to serious technical glitch faced by MSTC in auction platform. It is understood that the super cyclone ‘Amphan’ which caused serious damage in West Bengal, where their server is located, made it worse to restore it to salvage the situation. This ultimately led to cancel the auction and proceed for re-auction at a later stage.

IOC has now announced conducting e-auction of RPC for Outside State consumers on 28th May’20; details of which are enumerated as follows:

The delivery period for Outside State (OS) e-auction was for 45 days after the completion of the auction.

Earlier, there has been very poor response in auction for intrastate consumers conducted on 18th May’20. While no quantity was sold out at Bongaigaon and Digboi, a moderate quantity of 2,000 MT was sold at Koyali.

Notably, in the RPC auction for intrastate consumers, the change in reserve price was as follows:

We will have to wait and watch for the response in the forthcoming auction for consumers located outside states, particularly in view of the high increase in reserve price at Bongaigaon and Digboi and decrease in reserve price at Koyali.