logo
Indian refiners' May crude processing edges up 0.4% from a year earlier

Indian refiners' May crude processing edges up 0.4% from a year earlier

Time of India26-06-2025
Indian refiners' throughput saw a slight increase of 0.4% year-on-year in May, reaching 5.47 million barrels per day, driven by strong domestic fuel demand. Despite record-high crude oil imports, refinery runs were only modestly up due to lower refined product exports.
Tired of too many ads?
Remove Ads
Indian refiners' throughput in May rose 0.4% year-on-year to 5.47 million barrels per day (23.11 million metric tons), provisional government data showed on Thursday.Refinery throughput in April was at 5.25 million barrels per day (21.49 million metric tons).India's fuel demand in May rose to its highest in more than a year, while crude oil imports reached a record high of 23.32 million metric tons.The country is the world's third-biggest oil importer and consumer. "What drives refinery runs is domestic demand and refined product net exports. Oil demand was modestly up in May versus one year ago and refined product exports lower versus last year, so I guess that is the reason for the modest change," said Giovanni Staunovo, an analyst at UBS.The share of Russian oil in India's imports in May declined marginally as refiners cut purchases from Moscow by 15.7% to 1.7 million barrels per day (bpd), tanker data from trade and industry sources showed.India's Mangalore Refinery and Petrochemicals Ltd shut its 144,000 bpd crude distillation unit in mid-May, according to a refinery source and four traders who confirmed the development in early May.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

India-UK Deal, ‘Chai Pe Charcha', Cricket & EPL: PM Modi's Day Out With Starmer At Chequers
India-UK Deal, ‘Chai Pe Charcha', Cricket & EPL: PM Modi's Day Out With Starmer At Chequers

News18

time2 minutes ago

  • News18

India-UK Deal, ‘Chai Pe Charcha', Cricket & EPL: PM Modi's Day Out With Starmer At Chequers

Curated By : Shankhyaneel Sarkar Last Updated: July 24, 2025, 21:46 IST Britain's Prime Minister Keir Starmer and Prime Minister Narendra Modi, have a cup of tea during a business showcase event at Chequers near Aylesbury, England. (IMAGE: REUTERS) Prime Minister Narendra Modi and UK Prime Minister Sir Keir Starmer met at Chequers, the British PM's country residence, on Thursday for a business showcase event where the two leaders formally concluded the long-awaited India–UK Free Trade Agreement (FTA). The deal was signed after a high-level delegation meeting attended by top officials from both sides led by the respective prime ministers. The moment was marked by a casual yet symbolic tea break at a stall named 'Amala Chai," where PM Modi and UK PM Starmer were seen enjoying a cup of tea together. Shortly after the interaction, PM Modi shared photos from the event on X, writing: ''Chai Pe Charcha' with PM Keir Starmer at Chequers…brewing stronger India-UK ties! @Keir_Starmer." The gathering at Chequers also featured an interaction with players from the Buckinghamshire Street Cricket Hubs, highlighting the role of sport in building people-to-people connections. India and the UK are connected by a shared passion for cricket. At Chequers, PM Keir Starmer and I interacted with players from Buckinghamshire Street Cricket Hubs. Great to see sport fostering people-to-people ties between our nations. Also gave my young friends a bat signed… — Narendra Modi (@narendramodi) July 24, 2025 'India and the UK are connected by a shared passion for cricket," Prime Minister Modi said. 'At Chequers, PM Keir Starmer and I interacted with players… Great to see sport fostering people-to-people ties between our nations. Also gave my young friends a bat signed by the Indian cricket team which won the T20 World Cup." The tea and cricket-themed diplomacy followed the formal announcement of the FTA, a deal described as a milestone by both governments. Swipe Left For Next Video View all Modi said the agreement would enhance Indian exports in sectors such as textiles, footwear, gems, jewellery and seafood, while enabling Indian consumers to access British products like medical devices and aerospace components more affordably. He added that the deal would 'create new job opportunities" and benefit 'India's youth, farmers, fishermen, and MSMEs." Starmer called the FTA 'the most significant deal the UK has signed since leaving the EU," saying it would 'boost wages, raise living standards and put more money in the pockets of working people." He also said the agreement sends a clear message that 'the UK is open for business". Shankhyaneel Sarkar Shankhyaneel Sarkar is a senior subeditor at News18. He covers international affairs, where he focuses on breaking news to in-depth analyses. He has over five years of experience during which he has covered sev... Read More Shankhyaneel Sarkar is a senior subeditor at News18. He covers international affairs, where he focuses on breaking news to in-depth analyses. He has over five years of experience during which he has covered sev... Read More view comments News world India-UK Deal, 'Chai Pe Charcha', Cricket & EPL: PM Modi's Day Out With Starmer At Chequers Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

AAI designs Master Plan for Puducherry Airport expansion
AAI designs Master Plan for Puducherry Airport expansion

The Hindu

time2 minutes ago

  • The Hindu

AAI designs Master Plan for Puducherry Airport expansion

The Airports Authority of India (AAI) has developed a Master Plan for Puducherry airport with the provision for operation of A-320 class of aircraft, Union Civil Aviation Minister Kinjarapu Ram Mohan Naidu said in Parliament on Thursday (July 24, 2025). Responding to a question raised by Member of Parliament V. Vaithilingam on the status of expansion of the Puducherry airport, Mr. Naidu said that the AAI Master Plan envisaged an extended runway length of 2,300m and 45m width. The total additional land requirement will be 402 acres, out of which 217 acres are situated in Tamil Nadu and 185 acres are in Puducherry. The Master Plan has been shared with the Government of Puducherry, the Minister said. Responding to another part of the starred question, Mr. Mohan Naidu said the Puducherry airport was currently connected to Hyderabad and Bengaluru. To the MP's query on whether the Union government proposed measures for operating flights from Puducherry to Kochi and Shirdi in view of a large number of people travelling to these places, the Civil Aviation Minister said airlines were free to decide on markets/routes following the deregulation of the aviation sector in the country. 'With the repeal of Air Corporation Act in March 1994, the Indian domestic aviation has been deregulated. Airlines are free to induct capacity with any aircraft type, free to select whatever markets and network/route they wish to service, depending on their commercial and operational feasibility,' the Minister said in his reply.

Indian home textile sector to double its share in the UK market
Indian home textile sector to double its share in the UK market

The Hindu

time2 minutes ago

  • The Hindu

Indian home textile sector to double its share in the UK market

The Indian home textile sector is likely to see its share in the UK market double because of the India–UK Comprehensive Economic and Trade Agreement (CETA). Vijay Agarwal, chairman of the Cotton Textiles Export Promotion Council (Texprocil), said, 'The India–UK FTA marks a momentous milestone following three years of rigorous negotiations. It is poised to provide a major impetus to labour-intensive sectors such as textiles —particularly home textiles— currently facing a 12% tariff in the UK. With duty-free access, India has the potential to double its share in the UK home textiles market within the next three years. Moreover, with 99% of goods now qualifying for duty-free entry, Indian exporters will gain a substantial competitive advantage in the UK market.' On the investment side, the trade agreement is expected to encourage greater bilateral cooperation between Indian and UK companies, facilitating joint ventures, innovation partnerships, and market development initiatives, he said. According to Sudhir Sekhri, chairman, AEPC, 'This deal will usher a new era of garment trade with the UK. It will enhance market access, spur investment and job creation in the garment sector.' 'The India- UK FTA will not only give competitive market access to the Indian apparel products in the UK market, but also increase the trust and reliability factor by streamlining customs procedures and mutual recognition of standards, thereby, reducing the compliance burdens for the Indian apparel exporters,' he added. The UK is a global fashion hub and the fifth largest garment importer of the world, buying $ 19.7 billion worth apparel in 2024. India exported $ 1.2 billion worth of garments emerging as one among top four suppliers to the UK last year. For most of the garment products, the duty to export to the UK is 9.6%. India mainly exports cotton-based garments such as t-shirts, ladies dresses, and babywear but lacks competitiveness in winter wear and MMF garments, the AEPC said. A. Sakthivel, vice-chairman of AEPC, added the agreement is a game-changer for the Indian textiles and apparel industry. The Powerloom Development and Export Promotion Council said a significant portion of synthetic and blended textiles, cotton fabrics, made-ups, and home furnishings will now have duty-free access to the UK market. K. Sakthivel chairman of Pdexcil, said the agreement marks a new era for Indian powerloom manufacturers and exporters. The elimination of tariffs on key textile products will significantly enhance the weaving sector's global competitiveness, allowing MSMEs to scale up exports and tap into premium markets across the UK. There will be zero-duty market access for a wide range of synthetic, blended, and cotton fabrics and improved market entry for value-added textile products such as bedsheets, curtains, and garments.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store