Exports fell to 9.25 lakh bpd in May, lowest since Oct 2022, amid refinery maintenance, higher domestic output & export levies on diesel & ATF, says trade data intelligence Kpler.
The shipment earlier bound for Gujarat’s Vadinar has changed course amid payment concerns; could still reach India if issues are resolved, according to Kpler.
Also, The Economist examines if India’s ‘balancing act’ amid chaos offers it autonomy, or does it suggest it is ‘dangerously dependent on lots of different places at once’.
Work on the Barmer Pachpadra refinery is expected to be completed by March 2024, after a decade of delays, controversies, and battles between BJP and Congress. Blame-game is still on.
The Oman Tank Terminal Company has almost finished constructing eight tanks to store crude for a new refinery near the town of Duqm on the Arabian Sea.
Signed last year, Saudi-UAE joint project has been facing hurdles. Coastal refinery jointly owned by India's state-run oil firms likely to come up in Maharashtra.
Exports fell to 9.25 lakh bpd in May, lowest since Oct 2022, amid refinery maintenance, higher domestic output & export levies on diesel & ATF, says trade data intelligence Kpler.
An oil shock, monsoon fears, rampant unemployment, and the seeming inevitability of inflation are common to both eras. Indira Gandhi’s self-destructive responses are instructive today.
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