Indian refiners are gearing up to alter their crude oil import mix in favour of lighter grades that yield more gasoline to meet a surge in demand for the motor fuel in Asia's third-largest economy, company officials and analysts said.
"Demand growth in gasoline is much higher compared to diesel due to changing consumer preference on personal use vehicles ... and better power supply reducing use of diesel gensets," said M.K. Surana, chairman of Hindustan Petroleum CorpCredit rating agency Moody's India unit ICRA expects India's gasoline consumption to rise 14% to a record 31.
Improved road infrastructure has also cut distances and travel times for heavy vehicles, reducing diesel consumption. And Angolan crudes like Palanca, Kissanje and Azerbaijan's Azeri Light that produce more vacuum gasoil will suit refineries with fluid catalytic crackers, the BPCL official said., the nation's largest refiner, is having similar discussions about changing up its crude mix, a company official said.
"Most refiners cannot change their plant configuration or install additional blending facility overnight, so to maximise gasoline output the easiest way is to tweak the crude mix towards lighter grades," said the BPCL official.
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