Indian refiners processed 22.5 million mt, or an average 5.3 million b/d, of crude oil in March, up 6,5% year on year, latest data from the oil ministry showed, reflecting momentum in operation after the start-up for refineries that went through partial shutdowns two months ago. The March figure was 12% higher than in February. Analysts said the higher crude processing last month was primarily due to the increase in the capacity utilization at Reliance Industries Limited’s domestic-focused refinery at Jamnagar in the Gujarat state. The partial shutdown at RIL started on January 16 for about four weeks. RIL’s domestic-focused refinery operated at 102% in March as compared to 78% of capacity in February. In March, three refineries of state-run Indian Oil Corporation went through a partial shutdown phase because of regular maintenance. IOC’s […]