Oil & Petroleum Update

Monthly Report March 2021 | 1

Monthly Report - MARCH 2021

Oil & Petroleum Update


Disclaimer: The information contained in this market update is drawn from wide range of newspapers, business and trade magazines, government, company and industry association websites. While all possible care is taken to verify the correctness and authenticity of information contained in this compilation, no claim to independent authorship of articles is implied or intended. Readers are expected to make their own independent evaluation and verification of information for their use. While all information contained in this report are believed to be correct, the editors of this compilation or J.M.Baxi & Co. do not guarantee the quotes or other data

TABLE OF CONTENTS

Eyeing US crude, India plans to buy less oil from Middle East

India’s top refiner IOC aims to sell two hydrogen units this year

India an attractive investment destination for energy sector: Oil Minister

IOC inaugurates lubricant blending plant in Kolkata

Torrent Gas to invest Rs. 5,000-crore on city gas distribution in TN

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PORTANALYSIS

Crude oil traffic at Indian ports

(Qty in Million Tonnes)


Port Name Apr- Jan 2020-21 Apr-Jan 2019-20 Variance Y-O-Y

BHOGAT 0.937 1.098 -0.161

CHENNAI 6.325 6.23 0.094

COCHIN 10.404 13.48 -3.077

HAJIBANDAR 0.141 0 0

HALDIA 0.045 0.019 0.025

HAZIRA 0.398 0.366 0.031

JNPT 0.345 0.169 0.176

KAKINADA 0.086 0.001 0.085

KARAIKAL 0.315 0.293 0.022

MANGALORE 11.411 7.458 3.953

MUMBAI 14.184 14.44 -0.257

MUNDRA 13.271 15.683 -2.411

PARADIP 20.49 25.586 -5.096

RAVVA 0.327 0.412 -0.084

SIKKA 55.331 61.009 -5.678

VADINAR (SBM) 19.507 19.691 -0.184

VADINAR ESSAR 13.067 15.423 -2.356

VADINAR LPO (STS) 1.441 3.177 -1.737

VISAKHAPATNAM 8.213 7.853 0.36

Grand Total 176.236 192.668 -16.432


TOP 20 COUNTRY -WISE CRUDE OIL IMPORTS IN INDIA APR - FEB 21(Qty in Million Tonnes)

Countries Feb-21

BAHAMAS 0.095

COLOMBIA 0.587

DUBAI 0.136

EGYPT 0.135

INDONESIA 0.004

IRAN 0.145

IRAQ 3.67

ISRAEL 0.115

KUWAIT 0.7

MALAYSIA 0.159

MEXICO 0.573

NIGERIA 1.279

OMAN 0.311

QATAR 0.133

RUSSIA 0.543

SAINT LUCIA 0.259

SAUDI ARABIA 2.117

SINGAPORE 0.145

SOUTH AFRICA 0.288

U.A.E. 1.613

UNITED STATES 1.516


MAJOR CRUDE OIL IMPORTERS IN INDIA APR-FEB 21(Qty in Million Tonnes)

Importers Apr-Feb 21

ADANI WILMAR LTD. 0.004

AKRY ORGANICS LTD. 0.002

BHARAT OMAN REFINERIES LTD. 0.857

BHARAT PETROLEUM COPRN. LTD. 2.084

HINDUSTAN PETROLEUM CORPN. LTD. 1.045

HPCL MITTAL ENERGY LTD. 0.146

INDIAN OIL CORPN. LTD. 5.065

MANGALORE REFINERY AND PETROCHEMICAL LTD. 1.466

NAYARA ENERGY LTD. (ESSAR OIL LTD.) 1.241

RELIANCE INDUS. LTD. 4.214


OIL PRODUCT TRAFFIC AT INDIAN PORTS(Qty in Million Tonnes)

Port Apr- Jan 2020-21 Apr-Jan 2019-20 Variance Y-o-YBHOGAT 0 0.001 -0.001BUDGE BUDGE 0.041 0.265 -0.225CHENNAI 1.314 1.681 -0.367COCHIN 3.747 4.451 -0.704DAHEJ 1.123 1.007 0.115ENNORE 1.977 1.534 0.443HALDIA 3.506 4.528 -1.022HAZIRA 0.077 0.484 -0.407JNPT 1.664 2.124 -0.461KAKINADA 0.46 0.307 0.153KANDLA 2.451 3.255 -0.804KARAIKAL 0.002 0 0.002KARWAR 0.263 0.362 -0.099KATTUPALLI 0.055 0.039 0.016KOLKATA 0.021 0.012 0.009MAGDALLA 0.195 0.451 -0.256MANGALORE 3.913 4.021 -0.107MORMUGAO 0.285 0.451 -0.166MUMBAI 3.338 4.732 -1.394MUNDRA 2.999 2.952 0.046PARADIP 4.08 4.827 -0.747PIPAVAV 0.159 0.074 0.085PORT BLAIR 0.01 0.008 0.002SIKKA 37.031 40.21 -3.179TUTICORIN 0.384 0.422 -0.037VADINAR (SBM) 0.081 0 0VADINAR ESSAR 7.608 9.679 -2.071VISAKHAPATNAM 4.239 5.679 -1.439

Grand Total 81.021 93.556 -12.535


OIL PRODUCT TRAFFIC AT INDIAN PORTSAPR - FEB 21(Qty in Million Tonnes)

PORT CARGO TOTAL

BUDGE BUDGE HIGH SPEED DIESEL 0.003MOTOR SPIRIT 0.001

NAPHTHA 0.004CHENNAI BITUMEN 0.004

FUEL OIL 0.03HIGH SPEED DIESEL 0.044

LIGHT DIESEL OIL 0.002

MOTOR SPIRIT 0.053NAPHTHA 0.077

COCHIN FUEL OIL 0.028HIGH SPEED DIESEL 0.199


DAHEJ NAPHTHA 0.098ENNORE FUEL OIL 0.029

HIGH SPEED DIESEL 0.15MOTOR SPIRIT 0.039

HALDIA BITUMEN 0.033CARBON BLACK FEED STOCK 0.059


LIGHT DIESEL OIL 0.005MOTOR SPIRIT 0.019

NAPHTHA 0.088SUPERIOR KEROSENE OIL 0.014

HAZIRA BITUMEN 0.006FAROL 250 (MINERAL HYDROCARBON OIL) 0.003

HIGH SPEED DIESEL 0.006JNPT FUEL OIL 0.017



NAPHTHA 0.047KAKINADA DIESEL OIL 0.039

MOTOR SPIRIT 0.01KANDLA FUEL OIL 0.047


NAPHTHA 0.034KARAIKAL BITUMEN 0.005KARWAR BITUMEN 0.042KATTUPALLI CARBON BLACK FEED STOCK 0.01MAGDALLA NAPHTHA 0.022MANGALORE AVIATION TURBINE FUEL 0.077

BITUMEN 0.025FUEL OIL 0.029


NAPHTHA 0.037MORMUGAO HIGH SPEED DIESEL 0.022

MOTOR SPIRIT 0.017MUMBAI BITUMEN 0.007



VERY LOW SULPHUR FUEL OIL 0.02MUNDRA BITUMEN 0.011


NAPHTHA 0.013PARADIP AVIATION TURBINE FUEL 0.001


MOTOR SPIRIT 0.09SUPERIOR KEROSENE OIL 0.014

PIPAVAV BITUMEN 0.012SIKKA AVIATION TURBINE FUEL 0.222



STATE RUN FUEL OIL 0.14STATE RUN HIGH SULPHUR FUEL OIL 0.244

TAME 0.006TUTICORIN FURNACE OIL 0.003VADINAR ESSAR AVIATION TURBINE FUEL 0.063


NAPHTHA 0.084VISAKHAPATNAM AVIATION TURBINE FUEL 0.004

BITUMEN 0.01FUEL OIL 0.031


NAPHTHA 0.075SUPERIOR KEROSENE OIL 0.028

Grand Total 8.552


TOP IMPORTERSOF OIL PRODUCTSAPR-FEB 21(Qty in Million Tonnes)

Monthly Report February 2020 | 13

Importers Feb-21






HALDIA PETROCHEMICALS LTD. 0.088

ONGC PETRO ADDITION LTD. (OPAL) 0.063

BIRLA CARBON CO. 0.036

BITUMEN CORPN. INDIA PVT. LTD. 0.024

PHILIPS CARBON BLACK LTD. 0.023

VITOL ASIA PTE LTD. 0.018

PP SOFTTECH PVT. LTD. 0.015

AGARWAL INDUSTRIAL CORPN. LTD. 0.015

AGARWAL INDUS. LTD. 0.014

SWISS SINGAPORE INDIA PVT. LTD. 0.013

SRI SAI PETRO PRODUCTS 0.011

PRAKRUTHI INFRA IMPEX INDIA PVT. LTD. 0.01

HI TECH CARBON 0.01

HAZEL MERCANTILE LTD. 0.01

SAPCO BITUMEN CO. LTD. 0.008


Exporters Feb-21




MANGALORE REFINERY AND PETROCHEMICAL LTD. 0.359


OIL AND NATURAL GAS CO. LTD 0.032

ONGC PETRO ADDITION LTD. (OPAL) 0.033


SWISS SINAPORE PTE LTD. 0.004

TOP EXPORTERS OF OIL PRODUCTS APR - FEB 21(Qty in Million Tonnes)


Countries Feb-21

IRAQ 0.286

U.A.E. 0.26

ISRAEL 0.14

SINGAPORE 0.111

RUSSIA 0.1

NETHERLANDS 0.058

SAUDI ARABIA 0.041

UNITED STATES 0.026

OMAN 0.01

QATAR 0.008

COUNTRY -WISE OIL PRODUCT IMPORTS TO INDIA -APR - FEB 21(Qty in Million Tonnes)


Countries Feb-21

SINGAPORE 0.418

NETHERLANDS 0.326

U.A.E. 0.302

BELGIUM 0.278

TOGO 0.234

WEST AFRICA 0.225

AUSTRALIA 0.196

BRAZIL 0.172

SRI LANKA 0.153

SOUTH KOREA 0.148

INDONESIA 0.114

MOZAMBIQUE 0.108

JAPAN 0.107

TURKEY 0.103

ISRAEL 0.103

SAUDI ARABIA 0.101

FRANCE 0.1

SOUTH AFRICA 0.098

GUINEA 0.068

JORDAN 0.067

COUNTRY -WISE OIL PRODUCT EXPORTS FROM INDIA-APR - FEB 21(Qty in Million Tonnes)


Market Outlook and Trends


HIGHLIGHTSHIGHLIGHTS

• Eyeing US crude, India plans to buy less oil from Middle East

• India’s top refiner IOC aims to sell two hydrogen units this year

• India an attractive investment destination for energy sector: Oil Minister

• IOC inaugurates lubricant blending plant in Kolkata• Torrent Gas to invest Rs. 5,000-crore on city gas

distribution in TN


• Indian state-run refiners including Indian Oil Corp, the country’s biggest crude processor, are planning to cut purchases from Saudi Arabia in May and buy more from the US and on the spot market, officials said.

Eyeing US crude, India plans to buy less oil from Middle East

the officials who asked not to be named as the information isn’t public. IOC has floated a spot tender seeking crude from West Africa, the Middle East, the U.S. and Canada for April-May loading. Indian crude purchases from Saudi Arabia dropped 36% in January from the previous month, while U.S. imports more than doubled, government data show. Reuters reported earlier that Indian state-run refiners planned to cut purchases from the kingdom by a quarter to about 10.8 million barrels in May. Around 86% of Indian oil imports last year were from OPEC+ members, with 19% coming from Saudi Arabia, according to government data. New Delhi has repeatedly called for OPEC+ to pump more crude to stop prices from rising too high, but its pleas have fallen on deaf ears with Riyadh extending its supply cuts and raising premiums for its crude.

Source: Aljazeera.com

Indian refiners plan to buy less oil from the Middle East in the coming months as OPEC+’s supply restrictions makes U.S. crude more attractive. Strong gasoline demand due to people favoring private vehicles amid the Covid-19 pandemic and a slower recovery in diesel is also giving low-sulfur American grades an edge over heavier and more sour Middle Eastern varieties, officials at three state-run refineries in the world’s third-biggest oil importer said. Indian state-run refiners including Indian Oil Corp., the country’s biggest crude processor, are planning to cut purchases from Saudi Arabia in May, and buy more from the U.S. and on the spot market, according to



In her annual budget for the 2021/22 fiscal year presented last month, Nirmala Sitharaman, India’s finance minister proposed the sale of some assets of state-run companies to mobilise funds. To begin with IOC plans to sell two hydrogen units of 72,500 tonnes per annum capacity each at its 276,000 barrels per day (bpd) Koyali refinery in western Gujarat state by the end of 2021, Vaidya told reporters on the sidelines of an industry event. “We are starting with the Gujarat refinery. Let’s

see how it goes before we start the process for other refineries,” Vaidya said IOC operates about a third of India’s 5 million bpd refining capacity. Vaidya said the IOC will pay annual operation and maintenance charges to the new owner. “We are trying to leverage hydrogen units. The asset value and O&M (operation and maintenance) cost will be taken into consideration for selecting a licensor or new buyer,” he said. However, he said the firm had no plans to sell other units of the refineries for now. The sale of hydrogen units made sense, however, as IOC would be the sole customer of the hydrogen produced by the new owner from the units located at its Koyali refinery, he said.

Source: Reuters

India’s top refiner IOC aims to sell two hydrogen units this year

• State-run Indian Oil Corporation, the country’s top refiner, plans to sell hydrogen-producing units at its plants to private sector entities, its chairman S. M. Vaidya said.


“A testament to the same is the projected investment of $143-bn in the Indian oil & gas sector, of which, $56-bn is in E&P, $66-bn in gas and $20-bn in refining. We are keen to partner with global companies and investors for further strengthening of energy infrastructure in the country,” he said during his recent interaction with Stanford Alumni Group on ‘The Future of Energy in India’. Mr. Pradhan said India’s developmental stage engenders a rapid expansion of energy consumption and a need for robust energy security. India is currently using only 6% of the world’s primary energy, while the per capita consumption of energy is still one-

third of the global average. This, however, is rapidly changing. Mr. Pradhan said India is most committed to environmental and climate causes with the massive renewable energy and the energy efficiency programmes. “Overall, I would say that every country has to chart its own energy transition depending on the demand pattern and availability of resources. Although, we could have always argued on the back of per capita energy consumption basis that shows that India is not an emitter, like the OECD countries, however, India instead took the responsible path of sustainable development and energy transition for a clean and green future and the greatest common good for all,” he pointed out. Mr. Pradhan said India is accelerating its efforts to move towards a gas-based economy. The country is also moving rapidly towards cleaner use of fossil fuels, particularly petroleum and coal, he said.

Source: Chemical Weekly

India an attractive investment destination for energy sector: Oil Minister

• Asserting that India is an attractive investment destination for the energy sector, Oil Minister Mr. Dharmendra Pradhan said that policy reforms have enhanced the ease-of-doing business in the country.


Union Petroleum Minister Mr. Dharmendra Pradhan inaugurated a lube blending plant of Indian Oil Corporation (IOC) in Kolkata on December 19, set up with an investment of Rs. 142-crore. According to Mr. S.M. Vaidya, Chairman, IOC, the new plant,

with an annual throughput of 100,000-kilolitres, will make India self-reliant in lubricants. It will meet the needs of industries like steel, railways, engineering, fertiliser and power.


IOC inaugurates lubricant blending plant in Kolkata

• Set up with an investment of Rs. 142-crore.


Torrent Gas has signed an agreement with the government of Tamil Nadu (TN), committing to invest Rs. 5,000-crore for the development of city gas distribution (CGD) infrastructure in the State. Torrent Gas was earlier authorised by Petroleum and Natural Gas Regulatory Board (PNGRB) to provide Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Chennai and Thiruvallur districts in the State. “This investment by Torrent Gas in development of CGD infrastructure is expected to have a major impact on the socio-economic development of the region by attracting fresh investment in the State, which requires availability of natural gas as

a prerequisite, improving the competitiveness of existing industries using natural gas and increased savings for families and small businesses using CNG and natural gas. The investment will also provide direct and indirect employment to more than 5,000 people,” Mr. Jinal Mehta, Director, Torrent Gas, was quoted as saying in a statement. Torrent Gas will be laying pipelines and other requisite infrastructure in Chennai and Thiruvallur districts over an area of 3,569-sq.km. to provide PNG connections to homes, industries and commercial establishments and CNG to vehicles. As part of the first phase of the infrastructure roll-out, the company aims to commission over 30 CNG stations in Chennai and Thiruvallur districts in Q4FY21. Torrent Gas recently commissioned the first CNG station at Nagapattinam and has started the work of laying the pipelines.


Torrent Gas to invest Rs. 5,000-crore on city gas distribution in TN

• “This investment by Torrent Gas in development of CGD infrastructure is expected to have a major impact on the socio-economic development of the region by attracting fresh investment in the State.


Reports for March 2021

J. M. Baxi & Co. Monthly Agri Products Update

J. M. Baxi & Co. Monthly Automotive Logistics Update

J. M. Baxi & Co. Monthly Cement Update

J. M. Baxi & Co. Monthly Chemical Update

J. M. Baxi & Co. Monthly Coal Update

J. M. Baxi & Co. Monthly Container Update

J. M. Baxi & Co. Monthly Cruise Shipping Update

J. M. Baxi & Co. Monthly Edible oil and Extractions Update

J. M. Baxi & Co. Monthly Fertilizer Update

J. M. Baxi & Co. Monthly LNG & LPG Update

J. M. Baxi & Co. Monthly Mineral and Metal Update

J. M. Baxi & Co. Monthly Oil and Petroleum Update

J. M. Baxi & Co. Monthly Port Update

J. M. Baxi & Co. Monthly Project Cargo Update

J. M. Baxi & Co. Monthly Seafearer Insight Update

J. M. Baxi & Co. Monthly Steel Update


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