Fuel demand in January rises 3.2% to 20.49 million tonnes

India’s January fuel consumption hit its lowest monthly level since October, but was up 3.2 per cent year-on-year at 20.49 million metric tonnes, according to oil ministry data. India is the world’s third-largest consumer and importer of oil. The data is a proxy for the country’s oil demand. On a monthly basis, January fuel demand was

Indian crude processing remained near record levels

Indian refiners’ crude oil processing remained near record levels in February, provisional government data showed, catering to rising demand in the world’s third biggest oil importer and consumer. Refinery throughput was 2% higher year-on-year at 5.46 million barrels per day (20.85 million tonnes) for February. Throughput stood at 5.39 million barrels per day (22.80 million

Crude oil imports in China fall in September

China’s crude oil imports in September were 2% below their level a year earlier, data showed, as independent refiners curbed throughput amid thin margins and lacklustre demand. However, state-run refiners lifted fuel exports to the highest monthly volume since June 2021 to cash in on robust export margins, according to data from the General Administration

India expects fuel demand to grow 5.5% in the next fiscal year

India’s fuel demand is likely to grow 5.5% in the next fiscal year beginning April 1, initial government estimates show, reflecting a pick-up in industrial activity and mobility in Asia’s third largest economy after months of stagnation. India’s fuel consumption in 2022-23, a proxy for oil demand, could rise to 214.5 million tonnes from the

India’s fuel demand reined in by COVID curbs in January

India’s fuel consumption fell in January after scaling a nine-month peak in December, government data showed, as COVID-19 curbs in several states hit mobility and industrial activity. Fuel consumption in the world’s third biggest oil consumer, a proxy for oil demand, totalled 17.61 million tonnes, down 3.7% from December and 0.2% from a year before,

Clean-energy push to halve petrol, diesel demand growth

Growth in petrol and diesel combined will likely decline to 1.5 per cent per annum this decade, compared with 4.9 per cent in the last, because of increasing blending of ethanol with petrol, and rising usage of vehicles powered by compressed natural gas (CNG) and electricity (EVs). The trend will also be persuaded by policy

India major driver of fuel demand: Puri

Inviting global firms to invest in the opportunities in the country’s oil and gas sector, Union minister of petroleum and natural gas Hardeep Singh Puri said on Wednesday that the “real growth story as a critical driver of (fuel) demand will come from India”. Puri was speaking at the inauguration of the oil and gas

US Refiners Cash in on Fat Margins as Fuel Demand Surges

US refineries are enjoying the highest profit margins to turn crude oil into gasoline in four years for this time of the year, as demand for the fuel jumps. The Nymex gasoline crack, a rough gauge of the margin refiners can capture with a barrel of crude based on futures prices in New York, was