Teji Mandi: Three things investors should know on January 29, 2021
RJio staged a trend reversal :
Reliance Jio Infocomm Ltd. added the most active subscribers among peers in November, beating Airtel. Jio added 5.4 million subscribers over the previous month in November. Bharti Airtel added 3.9 million, while Vodafone Idea Ltd. lost 1.9 million subscribers.
India s telecom industry added three times more active users in November MoM. Despite a decline, Bharti Airtel s active user percentage remains well above the industry. For Bharti Airtel, the average was at 96.6% as against the industry average of 83.8%. RJio s average active user base was at 79.6% while for Vodafone Idea, it was at 89.0%.
(Bloomberg) Indian energy demand got off to a shaky start in the new year with sales of transport and cooking fuels over the first two weeks of 2021 declining from a month earlier.
The sale of diesel the country’s most-used fuel and a proxy for economic health dropped during Jan.
Asia-Pacific plant closures could offset new supply streams
Refinery closures in Asia-Pacific are likely to offset a wave of new supply streams into the region.
The pandemic accelerated a wave of refinery closures, with several regional refiners forced to close or review operations due to poor refining margins.
BP’s plans to shut Australia’s largest refinery in Kwinana and Pilipinas Shell Petroleum Corp’s plans to shutter its Tabangao-based refinery in the Philippines, with several other potential closures on the horizon.
According to market sources, this will help offset a wave of new supply streams, especially of gasoil, entering the market, sources said.
A fuel primarily used for cooking has surpassed fuel as India’s second most popular oil product following a boost from a government buying program, cold weather and stay-at-home orders due to Covid-19. Consumption in 2020 of liquefied petroleum gas which is also used for heating was higher than motor fuel for the first time ever over a calendar year, data from the government showed. Demand got an additional boost later in the year following a six-month extension of a government program providing free LPG cylinders to lower-income people and an early start to winter. While LPG use rose as more people cooked at home due to tighter coronavirus restrictions, India’s full-year consumption of fuel never fully recovered from a collapse in demand during a nationwide lockdown in the second-quarter of 2020.
Covid-19 and cold has cooking fuel outpacing Gasoline in India
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(Mint)
. Updated: 12 Jan 2021, 05:37 AM IST Bloomberg
Consumption in 2020 of liquefied petroleum gas was higher than motor fuel for the first time ever over a calendar year, data from the govt showed
India’s full-year consumption of gasoline never fully recovered from a collapse in demand during a nationwide lockdown in the second quarter of 2020
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A fuel primarily used for cooking has surpassed gasoline as India’s second most popular oil product following a boost from a government buying program, cold weather and stay-at-home orders due to Covid-19.