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Refining and Marketing Annual Review October 2009

CRISIL Ltd.
October 30, 2009
196 Pages - SKU: CRSL2504989

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The global economic meltdown has led to a severe suppression in petroleum product demand, with global demand registering a negative growth rate for the first time since 1993. While the economic recovery is expected to be gradual, its pace will differ among countries. This is expected to lead to divergent trends in product demand across different regions. Light distillate demand is set to plummet; led by the drop in US gasoline consumption on the back of an economic slump, cuts in discretionary spends like driving and improving fuel efficiency due to stringent emission norms. Demand for middle distillates, though, is expected to grow rapidly, led by consumption in Asia and the Middle East. Therefore, the contribution from middle distillates to gross refining margins (GRMs) is expected to be higher, and that from light distillates to be lower. Also, as refinery yields tilt in favour of middle distillates, the rising demand for heavy distillates will lead to a tightening in the fuel oil (FO) market.

Sections: 1.0 Performance of integrated players; 2.0 Players; 3.0 Regulations; 4.0 Marketing infrastructure; 5.0 Products; 6.0 International scenario
Box: 3.0 Regulations; 01 The Petroleum and Natural Gas Regulatory Board (PNGRB) Act, 2006
Charts: 2.0 Players; 01 CPCL - JVs; 02 BPCL - JVs; 03 HPCL - JVs; 3.0 Regulations; 01 Key regulatory changes and their rationale; 5.0 Products; 01 Petroleum products - End-uses; 02 Details of cities in which CNG is available
Figures: 1.0 Performance of integrated players; 01 Refining margin industry average and crude prices; 02 Contribution to refining profits; 03 Estimated product slate of the Indian refining industry (2007-08 and 2008-09); 2.0 Players; 01 Refinery utilisation rates; 02 Market share; 03 Retail throughput (2008-09); 04 Employee cost per tonne of sales (2008-09); 4.0 Marketing infrastructure; 01: Product movement through pipelines; 5.0 Products; 01 Crude oil - International prices; 02 LPG - International prices; 03 MS - International prices; 04 Naphtha - Domestic, landed prices; 05 Naphtha - International prices; 06 Jet kerosene - International prices; 07 Diesel - International prices; 08 Fuel oil - International prices; 6.0 International scenario; 01 World consumption of crude oil; 02 Asia-Pacific - Per capita consumption; 03 Share of tax in retail prices of petrol (July 2009); 04 World share of oil consumption; 05 Share of world crude production; 06 Crude oil - International prices
Tables: 1.0 Performance of integrated players; 1 Player-wise GRMs; 2 Estimated retail marketing margins; 3 Estimated subsidy under-recovery; 2.0 Players; 01 Government scheme for sharing of losses; 02 Retail market share (per cent); 03 Fuel and loss ratio (2008-09); 04 Comparison of margins; 05 Growth in PAT; 06 Refining and marketing - Sector aggregates; 07 Product mix 2008-09; 08 Retail products - Aggregate sales; 09 Company-wise retail sales (PSU) - 2008-09; 10 Regional break-up of retail outlets - 2007-08; 11 Marketing companies - Sales composition (2008-09); 12 Refining capacity build-up in India; 13 Throughput for refineries; 14 Projected refining capacity; 15 IOC - Profile; 16 IOC - Shareholding pattern; 17 IOC - Joint ventures; 18 IOC - Refining capacity; 19 IOC - Configuration of refineries; 20 IOC, Barauni - Crude oil throughput and production; 21 IOC, Digboi - Crude oil throughput and production; 22 IOC, Guwahati - Crude oil throughput and production; 23 IOC, Haldia - Crude oil throughput and production; 24 IOC, Koyali - Crude oil throughput and production; 25 IOC, Mathura - Crude oil throughput and production; 26 IOC, Panipat - Crude oil throughput and production; 27 IOC, Barauni - Product-wise production; 28 IOC, Digboi - Product-wise production; 29 IOC, Guwahati - Product-wise production; 30 IOC, Haldia - Product-wise production; 31 IOC, Gujarat (Koyali) - Product-wise production; 32 IOC, Mathura - Product-wise production; 33 IOC, Panipat - Product-wise production; 34 IOC - Marketing network and facilities; 36 IOC - Existing product pipelines as on June 30, 2009; 37 IOC - Proposed product pipelines; 38 IOC - Operational performance; 39 IOC - Major approved/planned investments as on June 30, 2009; 40 IOC - Financial details; 41 BRPL - Profile; 42 BRPL - Shareholding pattern; 43 BRPL - Refining capacity; 44 BRPL- Configuration of refinery; 45 BRPL, Bongaigaon - Crude oil throughput and production; 46 BRPL, Bongaigaon - Product-wise production; 47 BRPL - Major approved/planned investments; 48 BRPL - Operational performance; 49 BRPL - Financial details; 50 CPCL - Profile; 51 CPCL - Shareholding pattern; 52 CPCL - Refining capacities; 53 CPCL - Configuration of refinery; 54 CPCL - Major planned/approved investments as on June 30, 2009; 55 CPCL, Manali - Crude oil throughput and production; 56 CPCL - Product-wise production; 57 CPCL - Operational performance; 58 CPCL - Financial details; 59 BPCL - Profile; 60 BPCL - Shareholding pattern; 61 BPCL - Refining capacity; 61 BPCL - Refining capacity; 62 BPCL - Configuration of refinery; 63 BORL - Under construction Bina Refinery configuration; 64 BPCL, Mumbai - Crude oil throughput and production; 65 KRL, Kochi - Crude oil throughput and production; 66 BPCL, Mumbai - Product-wise production; 67 KRL, Kochi - Product-wise production; 68 BPCL - Marketing network and facilities; 69 BPCL - Product pipelines; 69 BPCL - Product pipelines; 70 BPCL - Major planned/approved investments as on June 30, 2009; 71 BPCL - Operational performance; 72 Bharat Petroleum Corp Ltd (PSU) - Financial details; 73 NRL, Numaligarh - Profile; 74 NRL - Shareholding pattern; 75 NRL - Refining capacity; 76 NRL - Configuration of refinery; 77 NRL - Product-wise production; 78 NRL - Major planned/approved investments as on March 31, 2008; 79 NRL - Operational performance; 80 NRL - Financial details; 81 HPCL - Profile; 82 HPCL - Shareholding pattern; 83 HPCL - Refining capacities; 84 HPCL - Configuration of refineries; 85 HPCL - Under construction Bhatinda refinery configuration; 86 HPCL, Mumbai - Crude oil throughput and production; 87 HPCL, Vizag - Crude oil throughput and production; 88 HPCL, Mumbai - Product-wise production; 89 HPCL, Vizag - Product-wise production; 90 HPCL - Product pipelines; 91 HPCL - Marketing network and facilities; 92 HPCL - Major planned/approved investments as on June 30, 2009; 93 HPCL - Operational performance; 94 HPCL - Financial details; 95 MRPL - Profile; 96 MRPL - Shareholding pattern; 97 MRPL - Refining capacity; 98 MRPL - Configuration of refinery; 99 MRPL, Mangalore - Crude oil throughput and production; 100 MRPL, Mangalore - Product-wise production; 101 MRPL - Major planned/approved investments as on June 30, 2009; 102 MRPL - Operational performance; 103 MRPL - Financial details; 104 EOL - Profile; 105 EOL - Shareholding pattern; 106 Essar Oil Ltd - Refining capacity; 107 Essar Oil Ltd - Configuration of refinery; 108 Essar, Vadinar - Crude oil throughput and production; 109 Essar, Vadinar - Product-wise production; 110 Essar Oil Ltd - Financials; 111 RIL - Profile1; 112 RIL - Shareholding pattern; 113 RIL - Refining capacity; 114 RIL, Jamnagar - Product-wise production; 115 RIL - Configuration of refinery; 116 Reliance Petroleum Ltd - Jamnagar refinery configuration; 117 Reliance Industries Ltd - Financials; 118 Cals Refinery - Configuration; 119 NOCL Refinery - Configuration; 3.0 Regulations; 01 Petroleum companies - Government shareholding (June 30, 2009); 02 Customs duty structure; 03 Excise duty structure; 04 Petroleum products - Subsidies; 05 Profitability of a product pipeline; 4.0 Marketing infrastructure; 01 Existing product pipelines in India (2008-09); 02 Product pipeline ownership in India; 03 Proposed product pipelines; 04 Cost estimate of a product pipeline; 06 Profitability of a pipeline - Sensitivity analysis for IRR (per cent); 07 Comparative study of transportation by pipeline and rail; 5.0 Products; 01 Configuration of Indian refineries as on January 1, 2008; 02 Petroleum products - Consumption; 03 Petroleum products - Share of consumption; 04 Region-wise petroleum products consumption; 05 Petroleum products - Production; 06 Petroleum products - Imports/exports; 07 Refineries - Likely capacity additions; 08 Refineries - Throughput forecast; 09 Petroleum products - Demand-supply forecast; 10 Crude oil - Demand-supply; 11 Petroleum products - Conversion factors; 12 LPG - Demand-supply; 13 LPG - Market profile (household sector); 14 LPG - Domestic customers forecast; 15 LPG - Domestic demand forecast; 16 LPG - Industrial demand forecast; 17 LPG - Demand forecast; 18 LPG - Refinery-wise supply forecast; 19 LPG - Demand-supply forecast; 20 LPG marketing - Public sector companies (2006-07); 21 LPG - Refinery-wise production; 22 LPG - Imports; 23 LPG - Duty structure; 24 LPG - Dealer commissions; 25 MS - Demand-supply; 26 MS - Demand forecast; 27 MS - Demand-supply forecast; 28 MS - Refinery-wise supply forecast; 29 MS - Refinery-wise production; 30 MS - Duty structure; 31 MS - Dealer commissions; 32 MS price comparison - Domestic and international; 33 Naphtha - Demand-supply; 34 Naphtha - Regional share of consumption; 35 Naphtha - Demand forecast; 36 Naphtha - Refinery-wise supply forecast; 37 Naphtha - Demand-supply forecast; 38 Naphtha - Refinery-wise production; 39 Naphtha - Exports; 40 Naphtha - Duty structure; 41 SKO - Demand-supply; 42 SKO - Domestic demand forecast; 43 SKO - Forecast of SKO consumption to produce n-paraffin; 44 SKO - Demand forecast; 45 SKO - Refinery-wise supply forecast; 46 SKO - Demand-supply forecast; 47 SKO - Refinery-wise production; 48 SKO - Imports; 49 SKO - Duty structure; 50 ATF - Demand-supply; 51 ATF - Marketing (2008-09); 52 ATF - Demand forecast; 53 ATF - Refinery-wise supply forecast; 54 ATF - Demand-supply forecast; 55 ATF - Refinery-wise production; 56 ATF - Imports; 57 ATF - Duty structure; 58 HSD - Sectoral consumption; 59 HSD - Demand-supply; 60 HSD - Demand forecast; 61 HSD - Demand-supply forecast; 62 HSD - Refinery-wise supply forecast; 63 HSD - Refinery-wise production; 64 HSD - Imports; 65 HSD - Duty structure; 66 HSD - Dealer commissions; 67 HSD - Domestic and international price comparison; 68 FO/LSHS - Demand-supply; 69 FO/LSHS - Demand forecast; 70 FO/LSHS - Refinery-wise supply forecast; 71 FO/LSHS - Demand-supply forecast; 72 FO/LSHS - Refinery-wise production; 73 FO/LSHS - Imports; 74 FO/LSHS - Duty structure; 75 Bitumen - Demand-supply; 76 Bitumen - Demand forecast; 77 Bitumen - Refinery-wise supply forecast; 78 Bitumen - Demand-supply forecast; 79 Bitumen - Refinery-wise production; 80 Bitumen - Duty structure; 81 Key players - Installed capacities; 82 Lubricants - Market shares; 83 Lubricants - Sales of key players; 84 LOBS - Duty structure; 6.0 International scenario; 01 International fuel specifications; 02 Oil and gas sector - Mergers and acquisition; 03 World refinery capacities; 04 Oil and gas sector - Major global companies (Based on assets); 05 Oil and gas sector - Major global companies (based on profits); 06 World consumption of crude oil; 07 International region-wise consumption by petroleum product groups; 08 World refinery throughput; 09 World crude oil production; 10 Global trade of crude oil and petroleum products; 11 Inter-area movement of crude oil and petroleum products; 12 Crude oil - Proven reserves; 13 Refining margins - Singapore

Refining and Marketing Annual Review October 2009

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