Page 8 - Basrah Light News Today : Breaking News, Live Updates & Top Stories | Vimarsana

REFINERY NEWS ROUNDUP: Mixed run rates in Asia-Pacific The BPCL Mumbai refinery on the west coast of India is currently running at full capacity even as partial lockdown has been introduced in many parts of the western region. It recorded a 118% run rate in March compared with 116% a year ago, while the run rate for 2019-20 (April-March) was 95%, compared with 115% in 2019-20, reflecting the impact of lockdown in 2020. However, India’s Reliance Industries Ltd. in March ran at 84% at its two refineries at the Jamnagar integrated refinery complex, down from 96% a year earlier, with overall ru...

Singapore — Indian refiners are unlikely to pick up much spot Middle Eastern crude cargoes over the June and July trading cycle as several state-run refineries mull cutting down their operation rates and reduce middle distillates production amid faltering domestic fuel demand, putting a downward pressure on the Dubai crude market structure. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Many Asian refineries have been consistently receiving crude term allocation cuts from Saudi Aramco and other major Middle Eastern...

Source: Saudi Aramco. This being said, Saudi Aramco decided on a 20-50 cents per barrel increase with its Asia-bound May 2021 prices. Interestingly, the heavier the grade the bigger was the month-on-month hike, with both Arab Heavy and Arab Medium witnessing 50-cent upward moves, fuelling speculation that spot trading will bring about deep discounts to the OSP. After a blatantly weak February (4.56mbpd), Saudi loadings en route to Asian customers remained tame in March 2021 at 4.58mbpd. Compared to January 2021 (5.36mbpd), Saudi exports to Asia have fallen by more than 10% over the course of ...

SHARE The launch of Abu Dhabi's Murban crude futures contract as well as the establishment of a new platform at the Dubai Mercantile Exchange to trade in different grades, allow for greater transparency and offer more choice to the market, according to an analyst. Last week, the DME, which trades Oman's crude oil futures contracts, unveiled a new trading platform that will allow several crude grades to be traded through the exchange. The exchange, which is based within the Dubai International Financial Centre, will allow trade in regional grades such as Dubai, Upper Zakum, Murban, Basrah Ligh...

IRAQ DATA: March oil exports drop 0.8% amid signs of tighter OPEC+ compliance Iraq’s total crude exports in March, including flows from the semi-autonomous Kurdistan region, fell 0.8% month on month, data from the oil ministry and shipping reports showed, amid signs of tighter compliance with OPEC+ output cuts. OPEC’s second largest producer exported 3.280 million b/d in March, down from 3.305 million b/d in February, according to published data from the oil ministry and shipping reports from Turkey’s Ceyhan export terminal seen by S&P Global Platts. Federal exports in March declined 1....