India’s Diesel Flood Draws Rare Sales on Crashing Local Demand
- BPCL is exporting to keep plants running: refineries director
- April diesel shipments forecast to be 19% higher on year: FGE
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India’s diesel exports are expected to surge in April, with more companies such as state-owned refiners joining the selling spree in a rare move after domestic fuel demand collapsed due to a virus-led lockdown.
The nation is already one of Asia’s biggest diesel exporters but the crash in local consumption after the shutdown -- which has been extended to May 3 -- has led to refiners pushing more barrels into a saturated market. It’s a stark reversal from the start of the year when processors were importing large quantities of the industrial fuel to meet new emissions standards.