BPCL

Global Refiners To Eventually Adjust To Russian Crude Trade Complications

  • Refiners remain confused, seek more clarity on G7 price cap
  • BPCL expects Russian, Indian, Chinese insurance services to emerge
  • Europe takes more US crude at the expense of Asian buyers

Asian and European refiners remain confused about how G7’s plan to impose a price cap on seaborne Russian oil cargoes would function, but the oil companies would eventually find ways to have Russian crude supplies continue to flow in the market and manage alternative options to fill any gaps, reports Platts.

Refin...

https://mfame.guru/global-refiners-to-eventually-adjust-to-russian-crude-trade-complications/

US- Asia Pacific Arbitrage Drives VLGC Demand & Rates

According to an Argus Media report, arbitrage economics between the US and the Asia-Pacific region must remain attractive to support Very large gas carriers (VLGCs) freight rates at the higher levels recorded in the fourth quarter of this year.

The EIA has cut its 2021 forecast for domestic propane consumption to 870,000 b/d, from 920,000 b/d previously. Meanwhile, US production will rise to 5.27mn b/d in 2021, from 5.09mn b/d in 2020. This combination should constrain prices, supporting...

https://mfame.guru/us-asia-pacific-arbitrage-drives-vlgc-demand-rates/

Refiners Step-up Production as Fuel Demand Increases

  • Indian refiners are scaling up crude processing as local fuel demand increases.
  • Indian Oil Corp has raised crude processing at its plants to 60% capacity.
  • It aims to reach 80% by the end of May.
  • India’s fuel demand dipped about 46% in April from a year earlier lowest since 2007.
  • BPCL is operating its Mumbai refinery at about 70% capacity compared to 50% in April.

According to an article published in Reuters and authored by Nidhi Varma, Indian refiners are scaling up crude processing as local...

https://mfame.guru/refiners-step-up-production-as-fuel-demand-increases/

BPCL Unveils Plan To Invest in LNG Floating Terminal Function by 2020

  • BPCL plans to invest Rs 1,500-1,700 crore in building a floating liquefied natural gas import terminal at Andhra Pradesh.
  • BPCL is also a co-promoter of Petronet LNG Ltd, along with IOC, GAIL India, and Oil and Natural Gas Corp.
  • It is also a co-promoter of  Indraprastha Gas in Delhi with GAIL; Sabarmati Gas in Gujarat with GSPL; Maharashtra Natural Gas and Central U.P. Gas with GAIL.

According to an article published in Business Standard, Bharat Petroleum Corp Ltd plans to invest Rs 1,500-1,700...

http://mfame.guru/bpcl-unveils-plan-to-invest-in-lng-floating-terminal-function-by-2020/