Page 3 - Jit Yang News Today

The dramatic sprint of crude oil toward $100/b is prompting Asian importers to rethink supply strategy as well as their fiscal roadmap, which could result in an aggressive recourse to strategic reserves, changes to fuel subsidies and taxes, and ...

OPEC and its allies agreeing to a modest output hike may do little to soothe Asian buyers struggling with high oil prices, as concerns loom about the group’s production target being curtailed by capacity constraints, analysts told S&P Global Platts. Asian refiners have continued to call for OPEC+ to raise supply by at least 800,000 ...

Power Up: O&G and uranium feel the Kazakhstan political heat, coal slips under the radar

Indian refiners are accelerating crude purchases as they lift run rates closer to 100% on expectations of a sustained upward trend in products demand, while keeping a close eye on the omicron coronavirus variant. The threat from the new virus variant has not been severe enough to dent the country’s oil demand recovery, trade sources ...

Indian state refiners, bitten by surging crude prices, are working on a plan to jointly negotiate term crude import deals with the aim that pledging to buy larger volumes could potentially help to get relatively lower prices, Hindustan Petroleum Corp. chairman Mukesh Kumar Surana said on the sidelines of the India Energy Forum by CERAWeek. ...

India’s sharp revival in gasoline appetite to surpass even pre-pandemic levels has prompted its refiners to increasingly queue up to import lighter crudes in recent months, but the fourth quarter could see a tilt in the balance in favor of heavier grades as gasoil demand growth is expected to pick up speed. Traditionally, Indian refineries ...

Quality comes with a cost, and for Asian refiners aspiring to make low-carbon crude a bigger part of their procurement baskets it’s going to be no different. In a region where energy import costs have a big influence on overall financial strength of most developing economies, the common view is that Asia will be moving ...

Read more about Oil stocks are the best cyclical, economy reopening bet: Chris Wood on Business Standard. Global markets, according to a note by Goldman Sachs, are currently underestimating the demand for oil

India: Crude Oil Imports To Bear Covid Brunt In May With the second wave of coronavirus pandemic raging across India, its full impact will reflect in reduced crude oil imports by refineries for May, according to S&P Global Platts Analytics. This assumes significance given that India is a key refining hub in Asia, with an installed capacity of over 249.36 million tonnes per annum (mtpa) through 23 refineries. The fuel demand in India has again dipped with several states imposing lockdowns in the...

S&P Global Platts has cut India’s 2021 demand forecast for oil products by 9 per cent to 400,000 barrels per day (b/d) now, as compared to 440,000 b/d estimated last month. The latest revision, S&P Global Platts said, was done after taking into account the surging Covid cases across the country that have triggered lockdowns and mobility curbs across key economic hubs in India. “Lockdowns have been imposed in some pockets and provinces. Therefore, we have adjusted Indias total oil product d...