Indian Oil Corporation Ltd. (IOC), the country’s second-largest producer of petroleum coke, has revised pet coke prices from its various refineries effective from 9th Jun’20.
IOC has revised pet coke price at Koyali refinery for road supplies to INR 5,900/t over last month’s price of INR 6,150/t, a decrease of INR 250/t. Price for rake loading has been also decreased by INR 250/t to INR 5,700/t from INR 5,950/t of last month.
Pet coke price at Panipat refinery, for general states, has been revised to INR 6,820/t over last month’s price of INR 7,040/t, a decrease of INR 220/t. Pet coke Price for Punjab, Haryana, Jammu and Kashmir, and Chandigarh has been also decreased by INR 220/t to INR 6,920/t from INR 7,140/t of last month.
Pet coke price for road supplies at Paradip refinery has been revised to INR 5,610/t over last month’s price of INR 6,170/t, a decrease of INR 560/t. Similarly, the price for rake supply has been also decreased by INR 560/t to INR 5,310/t from INR 5,870/t of last month.
Pet coke price ex-Haldia refinery, has been rolled over at INR 6,340/t for road supplies. The price applicable for rake supplies has been also maintained at INR 6,040/t.
Price Commentaries
India’s largest pet coke producer Reliance Industries Ltd. (RIL) had decreased pet coke price w.e.f. 1st Jun’20 by INR 195/t and the trend was roughly followed by the country’s third-largest producer Naraya Energy (erstwhile Essar Oil). However, IndianOil has responded differently. The prices have been reduced at all refineries except at their newly commissioned pet coke facility at Haldia in West Bengal, where prices have been rolled over.
The decrease in price at Koyali and Panipat refineries is almost in the similar range of approximately INR 200/t like RIL, while the price reduction is sharper at Paradip by INR 560/t. The revisions at Koyali and Paradip are more or less similar to RIL revisions as there are possibly various common markets, which source pet coke supplies from RIL and Nayara Energy besides IOC. However, the logistics and marketing conditions at Paradip are totally different; hence the reduction is sharper, considering the prevailing marketing conditions at Paradip.
There have been no revisions at Haldia, and the prices have been consecutively rolled over for the third month in a row. In all probability, this is due to the reason that production at this newly commissioned delayed coker unit (DCU) at Haldia is limited and the unit is still under stabilisation.
At Panipat, the price for northern states is higher by INR 100/t in this month which was same in the last month. While the price for rake supplies is lower than road supplies at Koyali by INR 200/t, it is lower by INR 300/t at Paradip and Haldia.
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