India's fuel exports fall to lowest since 2022 amid refinery maintenance, domestic demand
India's refined petroleum product exports have dropped to their lowest level since October 2022, averaging about 930,000 barrels per day in May. This decline is attributed to refinery maintenance, a shift in production priorities, and increased domestic demand. The government has also revised export levies, further impacting the attractiveness of overseas sales.
- ▪India's fuel exports fell to about 930,000 barrels per day in May, the lowest since October 2022.
- ▪The decline is due to refinery maintenance, changing production priorities, and stronger domestic demand.
- ▪Reliance Industries' Jamnagar refinery maintenance reduced crude processing rates, limiting export volumes.
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India's exports of refined petroleum products fell to about 930,000 barrels per day (bpd) in May, their lowest level since October 2022, as refinery maintenance, changing production priorities and stronger domestic demand curtailed overseas shipments. Government revises fuel export levies for fortnight beginning June 1, domestic rates unchangedExports declined to around 930,000 bpd, down to levels last seen when shipments averaged 926,000 bpd in October 2022, reflecting a combination of lower refinery throughput and a growing focus on supplying the domestic market, according to data analytics firm Kpler.
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