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India refiners enjoying a boom from oil price slump

Shares of top three state refining companies up 53-131% in the year

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Fuel price deregulation has certainly helped the industry and much will depend on whether the Indian government maintains the policy.

New Delhi

THE slump in crude oil prices has almost doubled the value of India's big, state-owned refiners, outpacing the rest of the industry from China to the US

The companies had been forced to make a large proportion of sales at below cost for more than a decade. Now, they can