India’s frenzied efforts to counter disruptions in cooking gas supplies over the past months, while cargoes remained trapped in the Persian Gulf, has left state-run fuel retailers with the opposite problem — more than they can sell.
The three refiners run by the government, including India’s biggest processor Indian Oil Corp., had booked liquefied petroleum gas supplies amounting to as much as 40,000 tons a day, according to people familiar with the situation. The daily import requirement now, however, is closer to 30,000 tons to 32,000 tons.
