India’s fuel exports to Europe recover sharply in February

[Indos]

There are total 23 refineries in India, 18 in the Public Sector, 2 in the Joint Venture and 3 in the Private Sector


I don't know where you heard such a fact. Majority of India refineries are owned by the central govt. Majority of the profit has been booked by Public sector companies.

Ok thanks for the correction

 

[TheEconomist]

60 billion USD is not profit, but sales

yes, it's exports. Reliance or other Indian refineries do not have oil tankers of their own. I am not sure which companies are handling the supplies.

 

[War Lord]

Frigging Houthis, pound them wherever you can find em. The shipping costs are sky-high, especially after taking the SA route. Some insurers are denying routes through Houthi-affected areas or having to send them at higher costs. Crew insurance is also getting high.

Houthis will pound India long before you or your navy can do anything about them.

US/UK + allies like India can't stop the Houthis right now and you think you can "pound them wherever you can find em"??

Saudi Arabia has lost billions, along with several thousand deaths, in Yemen. You think you can do better??

 

[TheEconomist]

Houthis will pound India long before you or your navy can do anything about them.

US/UK + allies like India can't stop the Houthis right now and you think you can "pound them wherever you can find em"??

Saudi Arabia has lost billions, along with several thousand deaths, in Yemen. You think you can do better??

Shia Houthis hates Pakistanis more than India.

 

[GatlingGun]

US/UK + allies like India can't stop the Houthis right now

Stop your BS. India hasn't even lifted finger against Houthis yet, because we have good relation with Iran. We are only conducting anti piracy and rescue operations there.

 

[DDG-80]

India's diesel exports to Europe see nearly three-fold jump in February

Diesel exports to Europe quadrupled in February over the previous month as enhanced margins on the fuel lured more Indian cargoes into the continent.

Indian refiners exported 204,000 barrels per day (bpd) of diesel to Europe in February, up from 56,000 bpd in January, according to energy cargo tracker Vortexa. The sharp rise in supplies to Europe increased India's overall exports of diesel to 600,000 bpd in February, up from 450,000 bpd in January. No diesel was exported to the US and supplies to other destinations remained steady in February.

"The east-west arbitrage re-opened in February, partly supported by more European refiners heading into maintenance. India's diesel exports to the US have traditionally been minimal due to ample supplies in the US," said Serena Huang, an analyst at Vortexa.

"The east-west arbitrage re-opened in February, partly supported by more European refiners heading into maintenance. India's diesel exports to the US have traditionally been minimal due to ample supplies in the US," said Serena Huang, an analyst at Vortexa.

Amid the threat of Houthi attacks on ships, a large share of diesel exports to Europe was diverted to transit via the Cape of Good Hope, avoiding the Red Sea and the shorter Suez Canal. The longer route means higher freight. This combined with weak east-west arbitrage helped attract more Indian diesel cargoes to Asia in January.

However, the situation changed in February as margins in the European market expanded to become attractive for Indian refiners even after factoring in the increased freight.

India's overall refined product exports in February totalled 1.39 million barrels a day (mbd), up 23% from January, with the increase in exports mainly headed to Northwest Europe, said Huang.

Exports of refined products to Europe rose 120% to 310,000 bpd in February, while supplies to the US nearly halved to 56,000 bpd. Exports to Asia remained steady at around 400,000 bpd.

"India mainly exports gasoline blending components to the US east coast. Given ample supplies from Europe and domestically, combined with bearish demand and high freight costs, it has not been profitable for Indian refiners to export blending components to the US," said Huang.

Petrol and diesel account for two-thirds of India's annual exports of refined products. Refiners also export jet fuel, naphtha, vacuum gas oil and fuel oil. India mainly imports LPG and pet coke.

India's diesel exports to Europe see nearly three-fold jump in February

Amid the threat of Houthi attacks on ships, a large share of diesel exports to Europe was diverted to transit via the Cape of Good Hope, avoiding the Red Sea and the shorter Suez Canal. The longer route means higher freight. This combined with weak east-west arbitrage helped attract more Indian...

m.economictimes.com

Petroleum products exports registered a growth of 5.08 per cent at $8.24 billion.

 

[War Lord]

Shia Houthis hates Pakistanis more than India.

Nope, fake news.

 

[Guynextdoor]

India is massively profiteering from the Ukraine-Russia war.

It is now acting as the refiner for Russian crude oil for the European vassals of the US.

Good job India and charge the dumb Europeans as much as you can get away with!

India is maintaining world peace through letting poor countries (incl. BD) have access to cheap oil.

 

[UKBengali]

India is maintaining world peace through letting poor countries (incl. BD) have access to cheap oil.

Yes that is a good side benefit but India is doing well out of Ukraine-Russia war and so good on India.



PS - I don't think India gives BD any "cheap" oil but it is all good BD having ready access to refined oil products from next door.

 

[Nester]

PS - I don't think India gives BD any "cheap" oil but it is all good BD having ready access to refined oil products from next door.

India's rates are lower than any other supplier.

But I don't expect you to be thankful. It's beyond you

 

[UKBengali]

India's rates are lower than any other supplier.

But I don't expect you to be thankful. It's beyond you

Err as India is next door and so transportation costs are lower than others.

Why should BD be thankful for a commercial transaction?

 

[Nester]

Err as India is next door and so transportation costs are lower than others.

Why should BD be thankful for a commercial transaction?

BD has everything to be thankful for but class and caliber are not universal!!

Spending 25 years as "Pakistanis" has taken a toll on the Bangla.

 

[SoulSpokesman]

@UKBengali

UKB Dada,

India is massively profiteering from the Ukraine-Russia war.

Brofessor sb (aka Riaz Haq) isnt liking it for sure.

Regards

 

[Fifa124]

India's diesel exports to Europe surge fourfold in June amid better margins

India's diesel exports to Europe surged fourfold in June to 119,400 barrels per day from 24,500 barrels per day in May, driven by better margins in the continent. Despite this, India's overall diesel exports fell 4% to 482,400 barrels per day. Europe received a quarter of India's diesel...

m.economictimes.com

 

[DDG-80]

Exports of clean oil-product exports from India jumped to their highest since March 2022 as refinery shutdowns in Europe led to a spike in demand from overseas buyers, including nations in Africa.

Shipments of diesel, gasoline and jet fuel from the world’s fourth-largest refiner swelled to 1.5 million barrels a day in September, up about 39% on-year, according to Kpler data.

While India is a major crude-oil importer — where refiners are largely configured to service domestic consumption — private processors also service substantial overseas requirements. Last month, European refiners cut processing due to maintenance and poor margins, limiting local supplies and hitting their exports to Africa.

“The open diesel arbitrage to Europe has been driven by lower supplies due to the region’s planned and unplanned refinery maintenance,” said Serena Huang, head of APAC analysis at Vortexa.

Among flows from India, product exports to Africa hit a a record 380,000 barrels a day, according to Kpler data.

Oil-Product Exports From India Jump Amid Maintenance in Europe

Exports of clean oil-product exports from India jumped to their highest since March 2022 as refinery shutdowns in Europe led to a spike in demand from overseas buyers, including nations in Africa.

www.bloomberg.com