Indian Oil Corporation Ltd. (IOC), the country’s second-largest producer of petroleum coke, has announced its second online auction of RPC (Raw Petroleum Coke) from various refineries excepting Bongaigaon in Assam.
The auction is scheduled on 18th and 19th Oct’19 for intrastate consumers. The leftover quantity will be auctioned on 21st and 22nd Oct’19 for outside state consumers.
Details of the auction are enumerated as follows:
| Refinery | Quantity Offered (MT) | Date Within State Customer | Date Outside State Customer |
| Barauni Refinery (Gr.A) | 17,690 | 19th Oct’19 | 23rd Oct’19 |
| Barauni Refinery (Gr.B) | 6,600 | 19th Oct’19 | 23rd Oct’19 |
| Guwahati Refinery (Gr.A) | 8,500 | 18th Oct’19 | 22nd Oct’19 |
| Digboi Refinery (Gr.A) | 9,400 | 18th Oct’19 | 22nd Oct’19 |
| Koyali Refinery | 45,000 | 19th Oct’19 | 23rd Oct’19 |
| TOTAL | 87,190 |
The delivery period for within state e-auction quantity will be from 22nd or 23rd Oct’19 to 4th or 5th Dec’19, whereas delivery period for outside state e-auction quantity will be from 23rd or 24th Oct’2019 to 6th or 7th Dec’19.
Bidders are required to submit interest free pre-bid earnest money deposit (EMD) amount of INR 700/MT to MSTC on behalf of IOC. EMD amount should always be commensurate with the bidding quantity.
Notably, the first auction of Oct’19 was conducted on 10th Oct’19 for only Guwahati refinery, for intrastate consumers at a reserve price of INR 19,610/MT, but no bid was received in this auction. Then the entire quantity was auctioned on 12th Oct’19 for outside state consumers, but again no quantity was sold out in this auction also, thus leaving behind the entire quantity of 8,500 MT put on auction at Guwahati refinery.
For other refineries auction was conducted on 11th Sep’19 for within state consumers and on 13th and 14th Sep’19 for outside state consumers. While the auctions received mixed responses at various refineries, Koyali refinery received no bid in both the auctions. The entire quantity of 45,000MT remained unsold.
The reserve price declared during the last auctions conducted on 11th and 14th Sep’19 was INR 14,350/MT at Bongaigaon, INR 13,890/MT at Digboi and INR 14,280/MT at Koyali refinery.
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