Indian Oil Corporation Ltd. (NSE: IOC) has conducted auctions of RPC (Raw Petroleum Coke) from its various refineries on 5th & 6th Nov’18, wherein the entire offered quantity of 60,650 MT was sold out.
Refinery-wise auction details is as follows:
| Refinery | Quantity Offered (MT) | Quantity Sold (MT) | Reserve Price (INR/MT) | Highest Bid Price (INR/MT) |
| Barauni Refinery (Gr.A) | 23,500 | 23,500 | 25,000 | 25,570 |
| Barauni Refinery (Gr.B) | 650 | 650 | 24,500 | 24,520 |
| Bongaigaon Refinery (Gr.A) | 22,000 | 22,000 | 24,140 | 24,140 |
| Guwahati Refinery (Gr.A) | 4,000 | 4,000 | 29,300 | 29,300 |
| Digboi Refinery (Gr.A) | 6,500 | 6,500 | 23,480 | 23,480 |
| Koyali Refinery (Gr.B) | 4,000 | 4,000 | 22,170 | 22,180 |
Source: CoalMint Research
Various calciners participated in the auctions from the states of Bihar, Assam and Gujarat in line with terms and conditions set by IOC with guidelines from MOP&NG (Ministry of Petroleum & Natural Gas) issued during 2012.
It has been observed that reserve price at Guwahati has been substantially higher than other refineries. There has been good increase in bid price at Barauni over reserve price than other refineries. The successful bidders are required to uplift their allotted quantity within 45 days.
PRICE ASSESSMENTS
The latest offers for pet coke (6.5% Sulphur) from USA are assessed at around USD 102/MT CNF India, while offers for pet coke (9% Sulphur) from Saudi Arabia are assessed at around USD 98/MT CNF India.
Currently, Indian domestic prices of pet coke are INR 9,350/MT (Reliance Industries Ltd.) effective from 1 Nov’18.
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