Indian refiners' February crude processing stays elevated amid robust demand - Reuters

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April 5 (Reuters) - Indian refiners' crude oil processing remained near record levels in February, provisional government data showed on Wednesday, catering to rising demand in the world's third biggest oil importer and consumer.

Refinery throughput was 2% higher year-on-year at 5.46 million barrels per day (20.85 million tonnes) for February. Throughput stood at 5.39 million barrels per day (22.80 million tonnes)in January.

Crude oil processed in million barrels per day (bpd) terms, taking into account the fewer days in February, was the highest since Reuters records going back to 2009.

India's fuel demand hit its highest level in at least 24 years in February, with industrial activity in Asia's third biggest economy boosted by cheap Russian oil.

In February, Russia tightened its grip on India's oil market, while sending the share of African crude oil in India's total crude imports to its lowest level in at least 22 years.

Meanwhile, India's Bank of Baroda (BOB.NS) stopped clearing payments for Russian oil sold above the price cap set by the West from this month, three sources with direct knowledge of the matter said, a move that could expedite transition to a rupee trade mechanism.

Natural gas output rose 1.9% to 2.65 billion cubic metres year on year, while crude oil production was down nearly 5% year on year at 2.16 million tonnes, the data showed.

India cut its windfall tax on crude oil to zero, a government notification said on Tuesday.

Following are details of refinery throughput and crude oil output:

REFINERY PRODUCTION IN TERMS OF CRUDE THROUGHPUT (in '000 tonnes):

Source: Ministry of Petroleum and Natural Gas

IOC: Indian Oil Corp (IOC.NS)

BPCL: Bharat Petroleum Corp Ltd (BPCL.NS)

HPCL: Hindustan Petroleum Corp Ltd (HPCL.NS)

CPCL: Chennai Petroleum Corp Ltd (CHPC.NS)

MRPL: Mangalore Refinery and Petrochemicals Ltd (MRPL.NS)

Reliance Industries Ltd (RELI.NS)

Please note that CPCL's CBR refinery is de-commissioned under shutdown due to limitation in meeting required product specifications with the existing configuration.

CRUDE OUTPUT ('000 tonnes):

Total may not tally because some numbers have been rounded.

ONGC: Oil and Natural Gas Corp Ltd (ONGC.NS)

OIL: Oil India Ltd (OILI.NS)

^Includes oil output of Tripura

#Includes oil output from Mumbai High

Reporting by Arundhati Sarkar and Ashitha Shivaprasad in Bengaluru; Editing by Shailesh Kuber

Our Standards: The Thomson Reuters Trust Principles.

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