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 14 May’19.
Panipat refinery’s general price is revised to INR 8,010/MT from INR 8,250/MT, a decrease of INR 240/MT. Price for Punjab, Haryana, Jammu and Kashmir, Chandigarh is revised to INR 8,630/MT from INR 8,850/MT, a decrease of INR 220/MT.
Paradip refinery’s price for road supplies is revised to INR 8,030/MT from INR 8,200/MT, a decrease of INR 170/MT. The price for rake supply is revised to INR 7,730/MT from INR 7,900/MT, also a decrease of INR 170/MT.
However, IOC has maintained the pet coke price 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.
Meanwhile, HPCL-Mittal Energy Limited (HMEL) has not yet revised the pet coke price from Bhatinda refinery.
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.
In addition, there has been more time gap than usual on the part of IOC in responding to RIL’s price move.
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 200/MT than the price applicable for road supplies.
Maintaining the same price at Koyali is possibly due to lower stock availability amid robust demand.
Leave a Reply