Brief: India's BPCL To Continue Importing Gasoline For At Least Next Few Months-Exec

Engineers India

28/09/2020 14:19

Sept 28 (Reuters) - Bharat Petroleum Corporation Ltd Exec
Says:
    * GASOLINE SALES ARE ALMOST AT PRE-COVID LEVEL, SEPT
GASOLINE
SALES SAME AS YEAR AGO
    * DIESEL SALES ARE STILL LOWER THAN YEAR-AGO LEVELS
    * SEPT DIESEL IS 8-9% LOWER THAN PRE-COVID LEVEL
    * EXPECT OCT GASOLINE SALES WILL GROW FURTHER
    * EXPECT OCT DIESEL SALES TO BE UPTO 4% LOWER THAN YEAR AGO
LEVELS
    * NEED TO IMPORT GASOLINE AS LOCAL DEMAND FOR DIESEL IS
LAGGING
    * MAY IMPORT 30KT PETROL CARGO/MONTH FOR 1-2 MONTHS
    * IF DIESEL DEMAND DOESNT RISE THEN CO MAY CONTINUE TO
IMPORT 1
PETROL CARGO/MONTH
    * IN TALKS TO BUY SHARES OF OMAN OIL CO IN BORL
    * EXPECTS SEPT QUARTER GRM TO BE BETTER THAN JUNE QUARTER
    * NO PLAN TO SIGN TERM DEAL FOR IMPORT OF U.S. OIL
    * EXPECT CO'S PRODUCT SLATE TO REACH PRE-COVID LEVEL IN 2-3
MONTHS
    * OMAN OIL CO WANTS TO DIVEST ITS STAKE IN BORL
    * OIL INDIA LTD AND ENGINEERS INDIA WILL BUY STAKE IN
NUMALIGARH
REFINERY LTD
    * GOVERNMENT OF ASSAM WILL ALSO BUY STAKE IN NUMALIGARH
REFINERY
LTD
    * OPERATING REFINERIES AT ABOVE 80% CAPACITY
    * NOT PLANNING TO SHUT REFINERY UNITS FOR MAINTENCE IN
REMAINDER
OF FISCAL 2020/21
    * NO PLANS OF MAJOR FUND RAISING IN THIS FISCAL YEAR


Further company coverage:  BPCL.NS 

 ((Reuters.Briefs@thomsonreuters.com;))