Asia Gasoline Profits Rebound
Asia Gasoline Profits Rebound

Asia Gasoline Profits Rebound

Asia Gasoline Profits Rebound

A seasonal splurge has helped lift Asia’s crimped gasoline refining profits out of a long slump, but higher crude prices and the rise of energy-efficient cars are set to leave margins stuck at historically weak levels, industry watchers say. Asia’s gasoline margin stood at nearly $9.60 barrels per day on May 25, well above the 20-month low of $5.42 a barrel on April 19, Reuters reported. Traders say the surge since late April has been triggered by strong demand. Firms like Indonesia’s Pertamina, Asia’s top gasoline importer, have led the charge, buying actively ahead of the Ramadan fasting month, which this year goes from May 17 to June 14. In India, meanwhile, Bharat Petroleum has beefed up imports in recent weeks to meet an uptick in demand. “Looking just at Asia, we see demand growth for 2018 at 157,000 bpd year-on-year up 2%, down marginally from the 160,000-bpd growth we had at the beginning of May,” said Michael Dei-Michei, the head of research at consultancy JBC Energy.


Short URL : https://goo.gl/uX536n
  1. https://goo.gl/9HXQSa
  • https://goo.gl/G1yJFw
  • https://goo.gl/38Y81A
  • https://goo.gl/dDZrUa
  • https://goo.gl/Ds1atg

You can also read ...

Turkey Invites Bidders for Biggest Offshore Wind Farm
Turkey said on Thursday it would be accepting applications for...
OPEC Agrees to Hike Production
OPEC agreed on Friday to raise oil production by around 1...
Japan Could End Iran Oil Loading
Japan's oil refiners may have to end Iranian crude oil loading...
Gasoline Output Rises by 18 ml/d
Iran's gasoline production has risen by 18 million liters per...
Power Grid Wastage  Cut to Reach 9%
Electricity wastage in the national grid is planned to decline...
Judicious Water Consumption  Vital for Sustainable Development
Energy Minister Reza Ardakanian stressed the need to focus on...

Add new comment

Read our comment policy before posting your viewpoints