Indian Oil Corporation Ltd. (IOC) has conducted online auctions of RPC (Raw Petroleum Coke) from its various refineries on 7th and 9th Sep’20 for outside-state consumers.
Results of the auctions are enumerated as follows:
| State | Refinery | Reserve Price (INR/t) | Quantity Offered Outside-State (t) | Quantity Sold Outside-State (t) |
| Bihar | Barauni (Gr.A) | 15,950 | 15,302 | |
| Assam | Guwahati (Gr.A) | 14,790 | ||
| Assam | Digboi (Gr.A) | 14,730 | 5,000 | 1,000 |
| Gujarat | Koyali (Gr.A) | 14,320 | 21,300 | |
| TOTAL | 41,602 | 1,000 | ||
Delivery period for outside-state e-auction will be for 45 days from 10 Sep’20 to 24 Oct’20.
Earlier this month, IOC had conducted the first round of pet coke e-auctions from these refineries on 2nd and 3rd Sep’20 for intrastate consumers.
The combined results of both within-state and outside-state e-auctions in these refineries are summarized as follows:
| State | Refinery | Total Quantity Offered (t) | Quantity Sold Within-State (t) | Total Quantity Sold (t) | % of Quantity Sold (t) |
| Bihar | Barauni (Gr.A) | 17,552 | 2,250 | 2,250 | 12.8 |
| Assam | Guwahati (Gr.A) | 9,000 | 9,000 | 9,000 | 100 |
| Assam | Digboi (Gr.A) | 5,000 | 1,000 | 20 | |
| Gujarat | Koyali (Gr.A) | 23,000 | 1,700 | 1,700 | 7.4 |
| TOTAL | 54,552 | 12,950 | 13,950 | 25.6 | |
Market Commentaries
Market participants have indicated that the primary reason for such poor responses at almost all of the refineries can be primarily attributed to reduced quality of the product.
Although such complaint does not normally arise with IndianOil, recent auctions at IOC’s various refineries have seen low participation with most buyers citing degraded quality of material being produced consistently for last few months, with particular reference to Silicon (Si) content.
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