India was forced to ship due to shortage of gasoline and diesel

New Delhi: Global energy markets, which have thrown a lot of discrepancies in 2022 as the flow has turned again and prices have soared, have seen a new quick: India, especially Asia’s leading gasoline and diesel exporters, is forced to increase fuel imports. Has fallen.
Gasoline imports rose to about 13,000 barrels per day in the first half of June, according to Vortexa Ltd. Diesel imports, meanwhile, are poised to reach the highest level of 48,000 barrels per day since February 2020, a seven-month high. By Indian Oil Corp. And Bharat Petroleum Corp.As well as showing vortex statistics.
In the wake of the invasion of Ukraine, India has emerged as a distant top buyer of Russian crude, and the need to cover local shortcomings has increased even when its refiners are working hard to produce fuel. Elevated international product prices have prompted India’s private refiners to boost exports, with state processors now rushing to address additional imports.
Increased import activity from India is squeezing Asia’s fuel supply pool at a time when China, which is also a major shipper of diesel and gasoline, is lagging behind. According to industry consultant Oilchem, planned fuel imports from China have declined following refinery maintenance this month.
According to industry consultancy FGE, India’s haste to buy gasoline and diesel has already boosted regional refining margins for both fuels, which states have fuel shortages. Tamil Nadu And Gujarat. The FGE said in a recent note that the country is expected to continue to import more fuel in the coming months.


Source link

Leave a Comment