India plans to add at least 15 million tonnes of annual diesel production capacity through new refineries and expansions of existing facilities, Petroleum Minister Hardeep Singh Puri said.
The additional capacity is expected to help India meet domestic fuel demand while increasing supplies to international markets next year. The expansion could help ease diesel supply tightness in markets across the United States and Europe.
Russian Crude Exports Decline
Russia’s seaborne crude oil exports averaged 3.55 million barrels per day in the four weeks ended October 25, down 30,000 barrels per day from the previous four-week period.
Tanker movements from Russia’s Baltic port of Primorsk showed signs of recovery. The port recorded 12 tanker departures last week, compared with four the previous week.
Earlier disruptions had left Primorsk without ship arrivals or departures for three consecutive days, reportedly due to operational issues or maintenance.
A reduction in attacks on Russian refineries could allow domestic refining activity to recover, potentially diverting crude oil away from exports. No attacks on Russian refining facilities were reported in the seven days ended October 25.
Q1. How much additional diesel capacity does India plan to add?
India plans to add at least 15 million tonnes of annual diesel production capacity.
Q2. What were Russia’s average seaborne crude exports?
They averaged 3.55 million barrels per day in the four weeks ended October 25.
Q3. Why could Russian crude exports decline further?
The supplied report said a recovery in Russian refinery operations could divert crude oil towards domestic processing.
Q4. Where could additional Indian diesel supplies go?
The supplied report identified markets across the United States and Europe as potential beneficiaries.
