Stay updated with breaking news from Diesel Export. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
India’s diesel exports to Europe, which had touched a record high of over 287,000 barrels per day (bpd) in December, 2023, crashed to around 40,000 bpd in January. Consequently, India’s overall petroleum product exports to Europe in January fell almost 70 per cent from December to around 111,500 bpd — the lowest since July 2022.
Turkey, Brazil became main importers of Russian seaborne oil products in 2023
Oil: Russia temporarily banned exports of diesel from Sept. 21 to cope with a domestic shortage. The embargo was partially lifted on Oct. 9, with Russia resuming ultra-low-sulphur diesel (ULSD) exports via Transneft pipelines. On Nov. 22 Russia lifted a ban on exports of summer diesel.
Crude Oil: SAED on the export of diesel was increased to INR 6 per litre from INR 5.50 a litre and on jet fuel or ATF to INR 4 per litre from INR 2, the notification said.
The hydrocarbon markets are volatile and the frequency of windfall tax shifts has been disconcerting