Edition:
India

Indian Oil Expects India's Fuel Demand To Decline By 5% In FY21


Thursday, 25 Jun 2020 

June 25 (Reuters) - Indian Oil Corporation Ltd head of finance Sandeep Kumar Gupta::SAYS PANIPAT NAPHTHA CRACKER OPERATING AT FULL CAPACITY.SAYS SEE SUBDUED GROSS REFINING MARGINS IN JUNE QUARTER.SAYS ONGOING PROJECT WILL CONTINUE, WILL BE CAUTIOUS WITH FUTURE PROJECTS.SAYS BY END OF THIS MONTH, WE EXPECT OUR BORROWINGS TO GO DOWN TO 1 TRLN RUPEES.SAYS EXPECTS DECENT GRMS IN BALANCE OF FY21.SAYS EXPECT SOME AMOUNT OF INVENTORY GAINS IN Q1.SAYS ENNORE LNG TERMINAL OPERATING AT 10% CAPACITY.SAYS SEES FUEL DEMAND DECLINING BY 5% THIS FY.SAYS HOPES FUEL DEMAND TO RECOVER TO PRE-COVID LEVELS IN FY22.