News

              MUMBAI, FEB 25: BOOKING oftankers to export fuels from  the West Coast, home to two Reliance Industries Ltd (RIL) refineries, reportedly rose in February with more petrol sold to the US.

             Shipments of at least 1.07 million tonnes, or about 9.1 million barrels of oil products, are estimated to have left the West Coast so far this month for places such as Japan, the US, and the UK, up from 760,000 tonnes in January, according to shipbookings data compiled by top shipbroker, Clarkson Research Services Ltd.

            At least three tankers were booked to move 180,000 tonnes of unleaded petrol to the US Atlantic coast, the data showed. No US-bound takers were booked in January.

          “Demand in the US is probably the big driver, not particualr policy changes in India,” observed Ms Seema Desai, an analyst.

         Japan, the world’s second biggest oil importer after the US, was the largest destination of fuel exports, receiving at least 10 tankers that carried 405,000 tonnes of fuel so far this month. Japan received 445,000 tonnes  of fuel from India in January.

        RIL started an export-oriented 580,000-barrel-a-day refinery in December 2008. It is next to an older plant that can  process 660,000 barrels a day. Together, they are touted to be the largest refining complex in the world.

       In 2009, RIL became one of top 10 charteres of Aframax tankers to ship petroleum products, according to a report. Aframaxes can carry 637,500 to 1.02  million barrels of fuel.