Overview

Petroleum refining is India's largest public sector industry by turnover. Given the sector's significance and the broader trend of shifting from public to private management, there is considerable interest in the nature of refinery jobs and their operational efficiency. This book addresses these queries by first examining the composition of petroleum crude and the detailed processes involved in its refinement. The discussion then moves to the historical evolution of the Indian refining industry and the pricing policies governing its refined products. A critical analysis of the concepts of productivity and efficiency forms a core part of the text. To ground this analysis, an entire chapter is dedicated to explaining the measurement of variables essential for studying efficiency. A significant focus is placed on the particularly challenging problem of quantifying capital input, which is discussed in substantial detail. By systematically exploring these technical, historical, and economic dimensions, the book provides a comprehensive framework for understanding the performance and management of this vital national industry. It aims to offer valuable insights for policymakers, industry professionals, and analysts interested in the efficiency dynamics of India's critical petroleum sector.

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