ECONOMY

Indian Refining, Marketing Industry Update – Gross Refining Margins To Remain Under Pressure: ICRA

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The global liquids consumption is not expected to recover to pre-Covid-19 levels by 2022.

About 1.5 million barrels per day refining capacity would be added over CY 2021-2022.

Refinery throughput in CY 2022 is expected to remain below CY 2018 levels leading to utilisation below long-term averages

Singapore gross refining margins are expected to improve but remain muted owing to the global supply overhang

Gasoline cracks have improved significantly owing to the increase in demand but gasoil and jet/kero cracks remain much below their long-term averages

With diesel accounting for close to 40% of the refining product slate in India, it remains the major influencer of the GRMs of domestic refiners.

Click on the attachment to read the full report:

ICRA Refining and Marketing Thematic-August 2021.pdf

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