MALAYSIA JET FUEL EXPORTS
Asia's jet fuel imports from India to hit multi-year highs in November
India's jet fuel exports to Asia are surging, driven by refinery issues in the region and attractive pricing. This surge is expected to reach multi-year highs in November, exceeding 2.7 million barrels. The increase in supply, coupled with refineries coming back online after maintenance, could impact spot prices.
Satellite photos show Israel hit Iran former nuclear weapons test building, missile facilities, researchers say
Israeli airstrikes on Saturday targeted key facilities in Iran that were linked to its defunct nuclear weapons program and solid fuel missile production. These strikes potentially hampered Iran's missile production capability, as assessed by researchers using commercial satellite imagery.
Oil and gas import bill rises 20% to $69b in H1 of FY25
India's net oil and gas import bill rose by 20% to $69 billion in the first half of the fiscal year due to rising consumption and stagnant domestic production. Crude oil imports increased to $71.3 billion, while LNG imports jumped 18%. This rise in import costs was exacerbated by a decline in refined product exports.
France to expand aerospace collaboration with India, strengthen ¡®Make in India¡¯ initiatives
French business leaders, strengthening the 'Make in India' initiative, are integrating Indian firms into global supply chains and boosting industrial cooperation, especially in aerospace. This initiative is fostering major investments, jobs, and skills development, underscoring India's ambitions for sustainable and innovative aviation by 2050.
India's Sustainable Aviation Fuel potential 8-10 Million tonnes by 2040: Deloitte
India could produce 8-10 million tonnes of Sustainable Aviation Fuel (SAF) by 2040, requiring $70-85 billion in investments, according to a Deloitte India report. SAF aims to propel aviation sector decarbonisation, with the potential to reduce carbon emissions by 20-25 million tonnes annually. These initiatives are expected to create 1.1-1.4 million jobs and lower crude oil import bills by $5-7 billion yearly.
India's oil-product exports soar amid refinery shutdowns in Europe
India's clean oil-product exports surged to their highest since March 2022, driven by increased demand from Europe and Africa due to refinery shutdowns. In September, shipments of diesel, gasoline, and jet fuel reached 1.5 million barrels a day, marking a 39% year-on-year increase. European refinery maintenance and poor margins contributed to this spike.
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Nayara Energy sees 14 pc rise in domestic fuel sales, exports drop
Nayara Energy, India's largest private fuel retailer, reported a 14.3% increase in fuel sales for Q2 2024 while exports declined due to rising local demand. The company sold most of its diesel and petrol domestically and expanded its retail network to underserved markets, contributing significantly to India's energy security.
India's July diesel, jet fuel exports to Singapore, Australia set to hit 2-1/2-year high
India's diesel and jet fuel exports to Singapore and Australia hit their highest levels in 2-1/2 years in July, fueled by waning European demand and cheaper shipping costs. Industry sources indicate that Australia's increased imports were also due to planned refinery maintenance and new government mandates for refined product stockpiles.
Citing 'friendly ties', Malaysia urges India to relax curbs on food supplies
Malaysian Minister for Plantation and Commodities, Datuk Seri Johari Abdul Ghani, emphasized the negative effects of India¡¯s export restrictions on rice, sugar, and onions for Malaysia. Highlighting the ¡°friendly ties¡± between the countries, Ghani, currently visiting India, expressed hope for an arrangement to secure Malaysia's supply of these essential commodities.
India's diesel exports to Europe surge fourfold in June amid better margins
India's diesel exports to Europe surged fourfold in June to 119,400 barrels per day from 24,500 barrels per day in May, driven by better margins in the continent. Despite this, India's overall diesel exports fell 4% to 482,400 barrels per day. Europe received a quarter of India's diesel shipments, while supplies to Asia fell 10%. Overall refined product exports decreased by 5% to 1.19 million barrels per day. Reliance Industries and Nayara Energy are the biggest exporters, earning $29 billion from diesel exports in 2022-23, though revenues dropped to $22 billion in FY24.
Trade routes in turmoil: Why Indian exports are piling up in Colombo and Singapore
About 75% of India's transshipped cargo is handled at ports outside India, and the major trade routes connecting India to various destinations, including Colombo, Singapore, and Port Klang, are currently experiencing strain.
India and China top buyers of Russian fuel oil in May, LSEG data shows
In May, Russian seaborne fuel oil and VGO exports peaked at 4 million metric tons, with India and China as top destinations. The surge followed the European Union's embargo on Russian oil products, redirecting supplies to Asia. Notably, ship-to-ship loadings near Greece and Malta facilitated the transfer of cargoes destined for Asia.
China's lust for durian is creating fortunes in Southeast Asia
Eric Chan, a former satellite and robot code writer, founded a durian company in Malaysia. China's demand for durian led to a twelvefold increase in exports to $6.7 billion last year.
Goldman Sachs expects oil demand to keep growing until 2034
The research division of the bank raised its 2030 crude oil demand forecast to 108.5 million barrels per day (bpd) from 106 million bpd, and expects demand to peak at 110 million bpd in 2034, followed by a long plateau till 2040, analysts led by Nikhil Bhandari said in a report.
Reliance seeks access to ATF pipelines, storages of PSU oil firms
RIL aims to expand its market share in aviation turbine fuel (ATF) by accessing pipelines at major Indian airports like Delhi, Mumbai, Bengaluru, Hyderabad, Kochi, and Lucknow, competing with state-owned firms like Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL).
Greenko Zero C to supply 500,000 tonnes of green ammonia to Norway's Yara Clean Ammonia
Deliveries to start from Kakinada from Q4 of CY26, Industry sources say contract size expected to be $1.5-$1.8 bn over 10 years. 5GW of renewable power and pump storage in Andhra Pradesh to back production
Diesel, petrol export revenues dip 20% to $33 bn in 2023-24
India's exports of diesel and petrol fell by a fifth year-on-year to $33 billion in 2023-24 due to declining international prices. Diesel generated the largest share of export revenues for Indian refiners, accounting for $22 billion of the $48 billion earned by exports of refined fuels. The war in Ukraine and Western sanctions on Russia caused fuel prices to rise, boosting export earnings for Indian refiners.
A Gates-backed startup is making fuel from water and carbon dioxide
Since its Corpus Christi facility came online in October, Sacramento, California-based Infinium has become one of the first e-fuel makers in the world to turn industrial-scale production from a concept into a reality.
Centre hikes windfall tax on petroleum crude
Government raised windfall tax on petroleum crude to 4,900 rupees/tonne from 4,600 on March 16 through SAED. Diesel tax increased to Rs 1.5/litre on Feb 16.
India's diesel exports to Europe see nearly three-fold jump in February
Amid the threat of Houthi attacks on ships, a large share of diesel exports to Europe was diverted to transit via the Cape of Good Hope, avoiding the Red Sea and the shorter Suez Canal. The longer route means higher freight. This combined with weak east-west arbitrage helped attract more Indian diesel cargoes to Asia in January.
Chipmakers searching for 'China Plus 1' are finding Malaysia
Malaysia has been riding the tech wave since the 1970s when it energetically courted some of the world's electrical and electronic superstars, like Intel and Litronix (now ams Osram, with headquarters in Austria and Germany). After the COVID-19 pandemic revealed devastating weaknesses in global supply chains, interest in Malaysia as an additional source soared. The country is now world's sixth largest exporter of semiconductors, and packages 23% of all American chips.
A decade after MH370, planes still at risk of vanishing off the map
The huge Boeing Co. 777 jet, almost as long as a Manhattan city block and taller than a five-story building, had somehow managed to make itself invisible in the clear night sky. There were 239 people on board. Ensuing search operations combed through some of the deepest ocean floors in the inhospitable southern Indian Ocean, hundreds of miles off Australia¡¯s western seaboard, and found no trace of the main fuselage or any passengers and crew. Of the 3 million components in the 777, just a few fragments washed ashore years later on the east African coast.
DTDC launches operations in Malaysia, eyes southeast market expansion
DTDC, through its subsidiary DTDC Global Express PTE Ltd, has entered the Malaysian market by inaugurating a new office in Kuala Lumpur. The move expands DTDC's presence in Southeast Asia, adding to its existing locations in Singapore and Australia. The new office in Kuala Lumpur will provide enhanced trans-shipment solutions and offer export and import services to/from India, Singapore, and Australia, along with handling local deliveries in Malaysia.
Chinese firms look to Malaysia for assembly of high-end chips
The companies are asking Malaysian chip packaging firms to assemble a type of chip known as graphics processing units (GPUs). Further, the requests only encompass assembly - which does not contravene any US restrictions - and not fabrication of the chip wafers.
Russia exports key raw material for Kundankulam nuclear plant
Eight water jet pumps for Kudankulam NPP Units 5 and 6 were produced and shipped by CNIITMASH JSC specialists (belonging within JSC Atomenergomash, a machine-building division of ROSATOM). The items are intended to be used for chemical solution feed to the emergency cooling system of the primary circuit and spent fuel storage pool cooling.
India's desperate struggle to get into a first-world exporter club
India is eager to join the exclusive club of countries who build and export fighter jets with the hope of consolidating strategic ties with buyer countries. India has been trying to pitch the Tejas, its indigenously built light-combat aircraft, to countries such as Argentina and Egypt. Its efforts to export fighter jets are aimed at trying to counter China's influence, and fighter jet deals are often marked by a characteristic secrecy since the aircraft is customised according to the buyer's special needs.
Nayara Energy exports dip, just 0.07 mn tonne diesel flows to Europe in FY23
India's Nayara Energy, the second-largest private oil refinery, experienced a decline in fuel exports due to a surge in domestic sales, according to a company spokesperson. During 2022, 61% of the firm's sales were from the domestic market, with 39% from exports including aviation turbine fuel, diesel, and petrol. More than 84% of all fuel exports were to Asia, the Middle East, and Africa, and the bulk of production was sold via Nayara's 6,500-plus petrol stations.
Indian Oil plans green jet fuel plant to meet surging demand
The International Civil Aviation Organization last year adopted a target to cut emissions to net zero by 2050, and SAF has long been seen as the industry¡¯s fastest way to reduce emissions. However, global output is currently only a fraction of what¡¯s needed and airlines are banking on a huge supply boost.
Fuel export curbs likely to be extended
The central government will likely extend its restrictions on the export of diesel and gasoline. The extension of rules may discourage some Indian refiners, mainly private companies, from buying Russian fuels for re-exports to countries including those in Europe that have stopped purchases of refined products from Russia due to its invasion of Ukraine.
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