VOL. XLV

No 19

13-May-2002

SUPPLY/DEMAND

Indias Crude Requirements After Deregulation

SinceIndia abandoned its Administered Price Mechanism (APM) on 1April, a major step in deregulating the countrys petroleum products market,two state-owned refiners have begun sourcing their own crude oil. Beforederegulation, the Indian Oil Corporation (IOC) bought crude on behalf of Indias mainly state-owned refiners, and only the private firm,Reliance Petroleum, sourced its own crude oil. Now BharatPetroleum...