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Reliance took more interest in the country’s retail fuel sector and has opened more than 1,300 service stations.The company operates the China PVC free foam board screw barrel Factory world’s biggest refinery complex at the port of Jamnagar in Gujarat.Reliance’s domestic strategy initially won the backing of investors and the retail fuels group was touted by company Chairman Mukesh Ambani in a speech at its annual general meeting in July.64 trillion rupees ($90. Reliance also said in its results that fewer refinery outages last quarter meant global run rates were high.“We are focusing to produce and sell at every level,” said Reliance’s Srikanth.77 trillion rupees.Under Reliance’s “Oil to Chemicals Journey” strategy the company is seeking to “upgrade all of our fuels to high value petrochemicals” over the next decade.”end-ofTags: reliance industries, shares, revenue, fuel marketLocation: India, Delhi, New Delhi.Beyond IMO 2020 and the Indian fuel price turmoil, the oil industry is threatened by the rise of electric vehicles and alternative fuels that could reduce oil’s use as a transport fuel.
Reliance’s domestic push made sense in an Asian fuel market that is increasingly crowded with new refinery capacity from the Middle East, Southeast Asia and China.Reliance’s shares plunged 6.However, the Singapore margin has dropped by about 50 percent since mid-2017 because of rising crude prices.The decline has pushed Reliance’s market capitalization down to 6.This push into the domestic fuel market may stumble after India’s government imposed cost controls on Oct 4 on petrol and diesel prices to rein in recent record highs.Reliance’s refineries processed crude from the nearby Middle East and sold fuel to fast-growing markets in North Asia including China, Japan, South Korea and Taiwan.5 per cent.EXPORT MARKET & IMO 2020Reliance may be better placed to thrive on exports despite the increasing competition in Asia and the Middle East.With a move towards cleaner fuels as part of IMO.
BOB Capital’s Ahuja said Reliance’s gross refining margins could rise by up to $5 per barrel.Refiners are looking at petrochemicals to replace potentially lost demand in the transport sector. “We are not going to let this alter broadly our strategy on retail petroleum.“When prices are cut, you have to effectively match it,” said Venkatachari Srikanth, Reliance’s joint chief financial officer, during their earnings presentation on Oct 17. “Between whether to sell domestically or on bulk, whether we will export, every day is an analysis of which is a better option.The new capacity, combined with soaring crude prices, has eroded profit margins for producing refined fuels.With the domestic market now also under pressure from price controls, some analysts have been spooked.9 per cent on the day of the announcement and are down about 20 per cent since their record close on Aug 28.New Delhi: Reliance Industries, currently India’s second most valuable listed company, got rich by trading fuel across Asia, Africa and Europe while effectively ignoring its home market.

THE ASIAN AGE.The triple whammy of high oil prices, a falling rupee and a higher current account deficit has been faced before. But beyond the rising cost of a barrel of oil, with less produced by Opec and others raise yields, what should worry India more is the rupee’s falling value. And the days of $100/barrel may not be far. Not even sacrifices in excise by the Centre and the states to lower or at least rein in the lifetime high prices at the pump may do enough for public confidence, even if the macroeconomics are very sound as the government would like to believe. This isn’t just a corollary of rising oil prices. The rupee’s fall, from Rs 65/$1 in January to Rs 68 and possibly Rs 70 soon, means oil imports in dearer dollars hurt more.end-ofTags: indian economy, nda government.
The other hazard for India is that the general election is barely a year away. While inflation will ensure that bank rate determinants remain hawkish, the State, which seemed to do so well on oil taxes, will now be tempted to loosen the purse strings and go into freebie mode. High oil prices aren’t the tip of the iceberg, they’re more like the iceberg itself, towards which the Indian economy’s ship seems headed. The whole economic basket can be upset if oil prices stay high, as we’ve often seen in history. There too, a flight of foreign investments is possible as Rs 18,000 crore exiting in just the month of May. Where it may hurt now is that in the days of low oil prices, the Centre and states enjoyed the windfall by raising excise and VAT and didn’t let too much of it to trickle down to the people. The question is: will the triple whammy undermine the fundamentals to a great extent when the business environment is just about improving after the twin hits of demonetisation and the hasty implementation of GST, some of which is at unconscionably high levels, about which only the government can smile, but only at the cost of the people.
With scary estimates of $25-50 billion import bill hike due to the oil price spike beyond $80/barrel, the fears may be justified. The last Budget by the NDA government was seen neither as people-friendly nor business-friendly. Economics experts in the administration say that macroeconomic fundamentals are sound and the fiscal deficit is still under control, and the growth parameters strong. Published: May 22, 2018, 6:27 am IST Updated: May 22, 2018, 6:27 am IST The triple whammy of high oil prices, a falling rupee and a higher current account deficit has been faced before.Economics experts in the administration say that macroeconomic fundamentals are sound and the fiscal deficit is still under control, and the growth parameters strong. The way forward, with a widening trade deficit a given thanks to the spike in oil prices, remains fuzzy. The good times may be over for major oil importers like India. The stock markets are not the ultimate indices thread screw barrel of the health of the economy. Fiscal discipline is known to wilt at a whiff of elections as populist measures become vote-catchers.

Rupee is trading at 30 against dollar, as global crude prices slipped below the USD 60 per barrel mark.A higher opening of domestic equities supported the rupee. (Photo: AP)Mumbai: Rising for the eighth straight day, the rupee climbed 39 paise to 70.30 against the US dollar in early trade on Monday, as China thread screw barrel global crude prices slipped below the USD 60 per barrel mark.
Traders said the weakness in the greenback against some currencies overseas and a higher opening of domestic equities supported the rupee. At the interbank forex market, the rupee opened higher at 70.48 and rose further to quote at 70.30, showing a rise of 39 paise over its previous close.The rupee had rallied 77 paise to end at 70.69 against the US dollar on Thursday, in lock-step with softening crude oil prices and foreign capital inflows.
The forex market was closed Friday on account of Gurunanak Jayanti.In the last seven trading sessions, the rupee has gained a healthy 220 paise. Forex traders said the uptrend in the local unit was largely driven by foreign funds inflows to capital markets and softening crude oil prices.Foreign funds poured in Rs 446.24 crore into the capital markets on a net basis on Thursday, while domestic institutional investors also net bought shares worth Rs 49.68 crore, provisional data showed.Globally, Brent crude, the international benchmark, slipped below the USD 60 per barrel mark and was trading at USD 59.47 per barrel Monday.Meanwhile, the benchmark BSE Sensex opened on a positive note higher by 137.07 points, at 35,118.09 in opening trade.end-ofTags: rupee, dollar, american currency, indian currencyLocation: India, Maharashtra, Mumbai (Bombay)

International benchmark Brent futures were down 27 cents, or 0.34 per cent, at $79.53 per barrel.US West Texas Intermediate (WTI) crude futures were down 17 cents, or 0.24 per cent, at $71.67 a barrel.Seoul: Oil prices fell on Thursday on expectations that OPEC members will step up production in the face of worries over supply from both Venezuela and Iran.A surprise build up in crude oil inventories in the United States also weighed on prices, driving China foam board barrel screws Manufacturers the spread between Brent crude and US West Texas Intermediate (WTI) close to its widest in three years.International benchmark Brent futures were down 27 cents, or 0.34 per cent, at $79.53 per barrel at 0300 GMT.
US West Texas Intermediate (WTI) crude futures were down 17 cents, or 0.24 per cent, at $71.67 a barrel.The Organization of Petroleum Exporting Countries (OPEC) may decide to increase oil output to make up reduced supply from Iran and Venezuela in response to concerns from Washington over a rally in oil prices, OPEC and oil industry sources told Reuters.Supply concerns in Iran and Venezuela following new US sanctions had pushed both Brent and WTI to multi-year highs, with Brent breaking through an $80 threshold last week for the first time since November 2014.“The chat is still that OPEC will do something at its June meeting in reaction to the looming prospect of a fall in crude production and exports from both Iran and Venezuela as the year progresses,” said Greg McKenna, chief market strategist at CFD and FX provider AxiTrader.OPEC and some non-OPEC major oil producers are scheduled to meet in Vienna on June 22. The group previously agreed to curb their output by about 1.8 million barrels per day to boost oil prices and clear a supply glut.“Any signs that the group may be heading towards an early exit from the production cut agreement would weigh on prices,” ANZ bank said in a note.
Meanwhile, commercial US crude inventories rose by 5.8 million barrels in the week to May 18, beating analyst expectations for a decrease of 1.6 million barrels, the Energy Information Administration (EIA) said on Wednesday.Elsewhere, Libya, which is an OPEC member, cut its oil production by about 120,000 barrels per day as unusually hot weather prompted power problems, an official from the National Oil Corp said on Wednesday.Stephen Innes, head of trading for Asia-Pacific at futures brokerage OANDA in Singapore, said that prices were getting some support from talk that Sinopec, Asia’s largest refiner, would increase US crude oil imports to a record high.“Recent flow is suggesting short-term traders are looking to sell the $80 per barrel chart-toppers anticipating a possible compliance shift within the OPEC-Non Opec supply agreement,” he added in a note on Thursday.end-ofTags: oil, oil price, opec, crude oilLocation: South Korea, Seoul, Seoul

Crude oil inventories have fallen by almost 20% from their highs. “Geopolitical risks are clearly back on the crude oil agenda after having been absent almost entirely since the oil market ran into a surplus in the second half of 2014,” Bjarne Schieldrop, chief commodities analyst at SEB, said, also citing Kurdistan and Libya.9 million barrels.80 after hitting a May 2015 high of $67.“Falling inventories globally and strong economic growth offset the restart of the Forties pipeline and the resumption of production following a pipeline outage in Libya,” said Jeffrey Halley, senior market analyst at futures brokerage Oanda in Singapore.However, rising US production, which is on the verge of breaking through 10 million bpd, is somewhat hampering the outlook into 2018.
The 4,50,000 barrel per day (bpd) capacity Forties pipeline system in the North Sea returned to full China thread screw barrel Suppliers operations on Dec.“Growing unrest in Iran set the table for a bullish start to 2018,” the US-based Schork Report said in a note to clients on Tuesday.29 a barrel earlier in the day.end-ofTags: oil prices, crude oil.Strong demand growth, especially from China, has also been supporting crude.29 a barrel earlier in the day.Brent crude futures, the international benchmark, were also flat at around $66.Even without the unrest in Iran, which is a major oil exporter, market sentiment was bullish.40 by 1200 GMT after hitting $60.Iranian protesters attacked police stations late into the night on Monday as security forces struggled to contain the boldest challenge to the clerical leadership since unrest in 2009.Oil markets have been supported by a year of production cuts led by the Gulf-dominated Opec and Russia.
Brent crude futures, the international benchmark, were also flat at around $66.It was the first time since January 2014 that the two crude oil benchmarks opened the year above $60 per barrel.US commercial crude oil inventories have fallen by almost 20 per cent from their historic highs last March, to 431.Singapore/London: Oil prices posted their strongest opening to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by Opec and Russia.80 after hitting a May 2015 high of $67. 30 after an unplanned shutdown. The cuts started in January 2017 and are scheduled to cover all of 2018.US West Texas Intermediate crude futures traded flat at around $60.74 earlier in the day, their highest since June 2015