Refining frenzy worsens fuel glut in Asia

Asia is drowning in Chinese fuels and things are about to get worse over the next three years as new refining capacity in the world’s second-largest economy begins operating. According to Bloomberg columnist David Fickling, the teapots—China’s independent, private refiners—are the main driver of the glut that is choking off Asian refiners’ margins and pressuring prices. […]

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Palladium ranks as the best-performing metal of 2018; smashes another record

Palladium’s premium to platinum jumped to a record, building on its ranking as the best-performing metal of 2018. Shortages of the metal used in autocatalysts for gasoline-fueled vehicles sent its price to yet another all-time high, widening the price difference with rival platinum to more than $500 an ounce early this week. Most analysts don’t […]

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India set to overtake China to become the second largest oil consuming country: Wood Mackenzie Report

India will surpass China to become the second largest oil demand growth centre globally in 2019 on back of buoyant auto fuel and LPG consumption, research and consultancy group Wood Mackenzie said. In a report, Wood Mackenzie said India’s oil demand growth recovered strongly in 2018, overcoming the aftermath of the implementation of Goods and […]

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Diesel guzzler Indian Railways planning to turn to natural gas to cut cost

Indian Railways has signed a preliminary deal with gas firm GAIL (India) Ltd to use natural gas in some of its operations, part of a drive by the world’s third-biggest oil consuming country to gradually shift to cleaner fuels. India is building infrastructure, including pipelines and import facilities, to raise the share of gas in its energy mix to 15 […]

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India’s fuel demand rose to record highs in May; imports from Iran surge to highest since 2016

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India’s domestic demand of diesel and petrol rose to record highs in May, pushing the country’s overall fuel consumption for the month higher year-on-year, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed. Oil imports from Iran also surged to about 705,000 barrels per day (bpd) in May, their highest […]

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