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HINDPETRO - Hindustan Petroleum News Story

₹254.4 -7.9  -3.0%

Last Trade - 14/05/21

Sector
Energy
Size
Large Cap
Market Cap £3.59bn
Enterprise Value £5.40bn
Revenue £24.89bn
Position in Universe 103rd / 3111

UPDATE 1-India's March petrol sales up 27.4% y/y; diesel up 28.6% y/y

Thu 1st April, 2021 8:57am
(Adds details on jet fuel and LPG sales)
    NEW DELHI, April 1 (Reuters) - Indian state retailers'
gasoline and gasoil sales in March rose by 27.4% and 28.6%,
respectively, from the low base of last year when a nationwide
lockdown to stem the spread of the coronavirus hit consumption,
preliminary industry data showed.
    State companies - Indian Oil Corp  IOC.NS , Hindustan
Petroleum Corp  HPCL.NS  and Bharat Petroleum  BPCL.NS  - own
about 90% of India's retail fuel outlets.
    The three companies sold 2.47 million tonnes of gasoline
last month, the data compiled by three state retailers showed.
    Diesel consumption, an indicator of economic growth, which
accounts for about 40% of overall refined fuel sales in India,
totalled 6.41 million tonnes in March, the data showed.
    India imposed a strict nationwide lockdown from March 24
last year, resulting in a deep cut in fuel consumption.
    "Sales of petrol and diesel are back to near pre-COVID
levels as industry activity and travel has picked up," an
official at one of the state refiners said on condition of
anonymity.
    State retailers' sales of liquefied petroleum gas, or
cooking gas, last month declined 1.2% to 2.26 million tonnes as
the federal government reduced a subsidy for the fuel, the data
showed.
    Jet fuel sales declined by 4.4% to 437,000 tonnes.

 (Reporting by Nidhi Verma; Editing by Jacqueline Wong and
Barbara Lewis)
 ((nidhi.verma@thomsonreuters.com; +91 11 49548031; Reuters
Messaging: nidhi.verma.thomsonreuters.com@reuters.net))
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