With Asia expected to contribute some 70% of global demand growth in the coming years, OPEC Secretary General Mohammed Barkindo on Monday said his organization welcomes more opportunities to engage with buyers from the region.
Indian power utilities imported around 23.2 million mt of thermal coal over April-August, down 20% year on year, according to latest Central Electricity Authority data seen by S&P Global Platts Wednesday.
India’s LPG imports are expected to rebound from July onwards and is on track for a 10% annual increase in the current fiscal 2017-2018 (April-March), after plunging to the lowest in two years in June, trade sources from four oil and gas companies in India said recently.
Growing demand of petrochemicals from key industries including construction, transportation, packaging, textile, transportation, plastics, healthcare coupled with favorable operating conditions anticipated to drive global market growth for petroleum market.
State-owned Coal India Limited plans to close 37 mines in fiscal 2017-2018, running from April to March, the company said Friday.
India’s state-run Coal India Limited Thursday posted a 4% year-on-year decline in coal output to 40.74 million mt for May.
Donald Trump took the oath of office Friday promising to bring jobs back to the US and put America first in matters of trade and foreign affairs.
The dramatic rise in India’s oil demand shows no signs of faltering, leading analysts to say that the country will remain a driver of Asian growth in 2017.