Page 45 - Platts Analytics News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The relationship between India and OPEC is more important now than ever. Any lingering ill-feelings between India and Saudi Arabia from their spat over the price of crude earlier this year should be quickly cast aside, to focus on each other’s growing importance as consumer and supplier. If OPEC needed a sobering reminder of India’s importance as a customer, it received it in the worst possible way: the resurgence of the coronavirus pandemic in the world’s third biggest oil importer. India’s oil demand growth is set to be just 350,000 barrels per day (b/d) in 2021, according to S&P...

Advertisement Figures from the Nigerian Bureau of Statistics fourth quarter (Q4) 2020 report on ‘Foreign Trade in Goods and Statistics’, show that India is Nigeria’s top export destination accounting for 17.12 percent of exports during the period. Crude oil also accounts for 79 percent of Nigeria’s export in the quarter. India has continued to witness a spike in coronavirus infections, with figures on Thursday putting total active cases at 3.12million, according to data from MOHFW(India) and John Hopkins. Advertisement Refiners in India, the world’s third largest crude oil importer,...

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The US Energy Information Administration is expected to report a 67 Bcf injection for the week-ended May 14, according to a survey of analysts by S&P Global Platts. Responses to the survey ranged from a 63 Bcf to 78 Bcf injection. A 67 Bcf injection would prove less than the five-year average of 86 Bcf build and last year's 84 Bcf addition. It would expand stocks to 2.096 Tcf. US storage would measure 91 Bcf below the five-year average, and the deficit to 2020 would expand to 395...

Refinery news roundup: Some refineries in Africa remain offline In South Africa, both the Engen and Cape Town refineries remain offline, whereas Zambia’s Indeni is not expected to restart after a maintenance until later this year. Overall refining output in Africa remains low as many refineries remain closed or are operating intermittently, according to Africa-focused oil consultancy CITAC. In South Africa alone, refinery output fell 28% last year as all refineries were closed in April and May due to the lockdown. In April, South Africa’s Engen said it will be proceeding with the conversi...

Production slumps to four-year low in 2020 COVID-19 threw Nigeria’s oil industry into turmoil Sector anxiously awaits passage of PIB in 2021 Nigeria’s oil industry looks set for a difficult 2021 as a delay in implementing key legislative reforms compounds problems for a sector still reeling under the weight of OPEC+ output cuts and the impact of the coronavirus. Oil and gas remain the mainstay of the Nigerian economy. However, analysts say Nigeria has not been able to draw on its huge gas resources to bail it out from the economic woes, after passage of the landmark energy reform legislat...