Indian Oil Corporation Ltd. (IOC) has conducted online auctions of RPC (Raw Petroleum Coke) from its various refineries on 19th Sep’20 for intrastate consumers.
Results of the auctions are enumerated as follows:
| State | Refinery | Quantity Offered Within State (t) | Quantity Sold Within State (t) | Reserve Price (INR/t) |
| Bihar | Barauni (Gr.A) | 15,302 | 15,300 | 14,950 |
| Assam | Digboi (Gr.A) | 4,000 | 4,000 | 14,230 |
| TOTAL | 19,302 | 19,300 | ||
Delivery period for the within-state e-auctions will be for 45 days. Accordingly, intrastate dispatches will commence from 21st Sep’20 till 4th Nov’20.
Notably, these rounds of e-auctions were conducted within 12 days of the last round which was completed on 8th Sep’20 and had received poor responses. However, in this auction, the entire quantity is sold out at Barauni and Digboi refineries at the reserve prices.
At IOC’s Koyali refinery, no quantity was offered in this auction, although the entire offered quantity of 21, 300 t was leftover from the last round of auction.
As expected by the market participants and reported earlier, the reserve price was reduced at both the refineries in this auction as compared to the last auction as tabulated below:
| Refinery | Reserve Price
Current Auction (INR/t) |
Reserve Price
Last Auction (INR/t) |
Difference (INR/t) |
| Barauni (Gr.A) | 14,950 | 15,950 | (-) 1,000 |
| Digboi (Gr.A) | 14,230 | 14,730 | (-) 500 |
As the entire offered quantities were sold out from both refineries, no auction for Outside-State has been announced.
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