As India’s fuel demand picks up from April lows, Indian Oil Corporation (IOC), the country’s biggest refiner and fuel retailer, is gradually boosting operations across its refineries and aims to raise utilization to 80 percent by the end of May, compared to 45 percent in early April. Indian Oil’s refineries currently operate at around 60 percent of their design capacities, while plans are to boost those utilization rates to about 80 percent of capacity by the end of this month, the company said in a statement on Monday. “The Corporation’s refineries were operating full throttle before the COVID lockdown but had to curtail throughputs and bring operations down to nearly 45% of design capacities by the first week of Apr. ’20 in view of product containment issues forced by a steep drop in demand,” the refiner said, noting that even at low capacity utilization, it was on standby to […]