London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950

Our Clients

Order Informer

Home > News >

COVID-19 - News digest as of 28.09.2021

September 28/2021

1. Indian refiners prepare to change the structure of crude oil imports

MOSCOW (MRC) -- Indian refiners are gearing up to alter their crude oil import mix in favour of lighter grades that yield more gasoline to meet a surge in demand for the motor fuel in Asias third-largest economy, said Reuters. Refiners in the worlds No. 3 oil importer and consumer will increase imports of gasoline-yielding crudes from the United States and West Africa, while cutting heavier sour grades from the Middle East that yield more middle distillates like diesel and kerosene, they said. The move dovetails with an earlier push to reduce Indias reliance on Middle Eastcrudes to enhance energy security. The gasoline demand is very, very strong, whereas diesel is lagging behind right now, said Amrita Sen, head of research at Energy Aspects. "Refiners are shifting yields further to gasoline ... I would expect more West African, gasoline-rich crude to flow into India, less sour crude to go in there." Indian refineries are designed to maximise diesel production mostly from Middle Eastern oil, as government-controlled prices made the middle distillate the preferred fuel for industries and trucking firms. But a narrowing price gap between gasoline and diesel, and a consumer switch to personal vehicles instead of diesel-powered public transport since the onset of the coronavirus, are helping to lift gasoline consumption.

2. U.S. oil refiners looking to replace crude lost after a storm hit the U.S. Gulf of Mexico

MOSCOW (MRC) -- U.S. oil refiners hunting to replace crude lost after a storm hit the U.S. Gulf of Mexico last month have been turning to Iraqi and Canadian oil, while Asian buyers have been pursuing Middle Eastern and Russian grades, analysts and traders said, as per Hydrocarbonprocessing. Royal Dutch Shell, the largest producer in the U.S. Gulf of Mexico, this week said damage from Hurricane Ida to an offshore transfer facility will limit Mars sour crude supplies into early next year. The grade is used heavily by U.S. Gulf refiners and companies in South Korea and China, the top two export destinations for Mars. The United States generally exports more than 3 million barrels per day (bpd) of oil, most from the U.S. Gulf Coast. With overall fuel demand rebounding to pre-pandemic levels, refiners will need to make up for the Mars shut-ins. The loss of up to 250,000 bpd has some U.S. refiners seeking replacements for fourth-quarter delivery, especially Iraq's Basra crude, traders said. Others received supplies of sour crude from U.S. storehouses.

3. Asia oil demand approaching pre-pandemic levels as recovery gains momentum due to lower COVID-19 infections

MOSCOW (MRC) -- Japanese and Indian refiners said Sept. 28 they were cautiously optimistic about the regional oil demand reaching pre-pandemic levels, as the pace of recovery gains momentum due to lower COVID-19 infections, with India taking slightly longer to get there, reported S&P Global. Higher demand for fossil fuels gasoline and diesel was leading the recovery in Asia, with the consumption in some countries already past the pre-pandemic levels, but weak jet fuel demand was a drag. Weak jet fuel demand from the aviation sector amid the coronavirus crisis has kept regional refinery runs "significantly" constrained, but there was gaining optimism from vaccine rollouts despite the varied pace in different countries, Kawaguchi said.
Author:Margaret Volkova
Tags:Asia, Near East, crude and gaz condensate, medicine, petrochemistry, COVID-19, India, China, USA, South Korea.
Category:General News
| More

Leave a comment

MRC help


 All News   News subscribe