HINDPETRO

LONDON, Nov 14 (Reuters) - Northwest European gasoline profit margins fell by $1.70 to $23.34 a barrel on Friday after rising in the previous session, despite concerns around supply shortages.

• A total of 10,000 metric tons of Eurobob E5 gasoline barges traded as Equinor, Sahara and Trafigura sold to TotalEnergies, Varo, ExxonMobil and Shell.

• No Eurobob E10 gasoline barges traded in the session.

• China's Sinochem has shut one of the crude units at its Quanzhou site in southeastern China, following a fire incident on Thursday, trade sources said on Friday.

• This in part led to Asia's gasoline profit margins GL92-SIN-CRK rallying to the highest level since August 2023.

• Russia's Saratov oil refinery on the Volga river stopped primary oil refining on November 11 following Ukrainian drone attacks, two industry sources said. It produced 1.2 million tons of gasoline in 2024.

• Its Black Sea port of Novorossiysk temporarily suspended oil exports — equivalent to 2% of global supply — according to industry sources, after a Ukrainian missile and drone attack.

• Meanwhile, Britain paused sanctions that will allow Bulgaria's Burgas refinery and related petrol stations, owned by Russia's Lukoil LKOH.MM, to keep doing business with companies and banks until February 14.

• The U.S. is expected to issue a similar licence regarding the Bulgarian entities later today, a source close to the matter told Reuters.

  ​

(Reporting by Seher Dareen in London; Editing by Alan Barona)

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SINGAPORE, Nov 10 (Reuters) - For spot crude tender news stories please click.....CRU-O/TEND-O

For tenders on oil products please click:

Naphtha......NAP/TENDA Gasoline...MOG/TENDA

Jet/Diesel...MDIS/TENDA Fuel Oil...FUEL/TENDA

OUTSTANDING ASIA/MIDEAST CRUDE OIL TENDERS: (b = buys / s = sells)

* tender award, ** tender issue, *** further updates

(Reporting by Siyi Liu in Singapore)

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LONDON, Nov 3 (Reuters) - Northwest European gasoline profit margins were down just 2 cents a barrel at $16.49 on Monday.

• A total of 8,000 metric tons of Eurobob E5 gasoline barges were traded as Varo and Equinor sold to TotalEnergies, Exxon and MB Energy.

• Another 3,000 tons of Eurobob E10 gasoline barges changed hands with Trafigura selling to Varo.

• Ukraine's military said on Monday it hit an oil refinery in Russia's Saratov region overnight, adding that a successful strike and resulting fire had been recorded on one of the refining facilities.

• Turkey's largest oil refineries are buying more non-Russian oil in response to the latest Western sanctions on Russia, two people with direct knowledge of the matter and several industry sources told Reuters.

• Nigeria's Dangote Petroleum Refinery, Africa's largest oil refinery, is ramping up output to meet national petrol and diesel demand, after the government approved a new import tariff on fuel aimed at protecting domestic production.​

• EU and UK gasoline and blending component exports to other regions averaged 923,000 bpd in October, according to Kpler data, compared with 948,000 bpd in September.

​

(Reporting by Seher Dareen in London; Editing by Sahal Muhammed)

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LONDON, Oct 30 (Reuters) - Northwest European gasoline profit margins dipped by about $1.91 a barrel to $16.44 on Thursday despite a fall in stockpiles.

• A total of 19,000 metric tons of Eurobob E5 gasoline barges were traded as Exxon and Glencore sold to Trafigura, Varo and TotalEnergies.

• Another 6,000 tons of Eurobob E10 gasoline barges in total changed hands with Trafigura selling to BP and Varo.

• Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by around 8% on the week, data from Dutch consultancy Insights Global showed on Thursday.

• Lukoil LKOH.MM said on Thursday it had accepted an offer from global commodity trader Gunvor to buy its foreign assets, which Russia's second-largest oil company is seeking to sell after Washington imposed sanctions on it last week.

• Meanwhile, a ship carrying Russian naphtha has been stuck off India's western coast, unable to unload, since October 26 after U.S. sanctions on two key suppliers disrupted Indian oil and fuel imports, traders said and shipping data confirmed.​

• EU and UK gasoline and blending component exports to other regions have averaged 1.01 million bpd in October, according to preliminary Kpler data, compared with 928,000 bpd in September, making this month's exports potentially the highest since May this year.

​

(Reporting by Seher Dareen in London; Editing by Shreya Biswas)

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Oct 29 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:

• HPCL-MITTAL ENERGY: STOPPED PURCHASING RUSSIAN OIL AFTER LATEST SANCTIONS

• HPCL-MITTAL ENERGY: WILL CONTINUE TO REVIEW ITS POSITION AND COMPLY WITH GOVERNMENT POLICY AND APPLICABLE LAWS

Further company coverage: HPCL.NS

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Oct 28 - By Nidhi C Sai, Editor Online Production, with global Reuters staff

U.S. and EU sanctions on Russia's top oil producers have heaped pressure on India's refiners, especially Reliance Industries RELI.NS.

The golden run of discounted Russian barrels that boosted their profits and margins may be coming to an end. Can they cope with the new reality? That's our focus this week.

And, Reliance is also rushing to ship battery component orders out of China. Scroll down for more on that.

THIS WEEK IN ASIA

Trump praises Japan's 'great' female leader in talks on trade, critical minerals

As Trump-Xi trade talks near, investors turn to history as a guide

China and ASEAN, hit by US tariffs, sign upgraded free trade pact

Luxury brands turn on the charm in China to kindle nascent spending recovery

Robot dogs and AI drone swarms: How China could use DeepSeek for an era of war

SCOUTING FOR NEW SUPPLY SOURCES

The latest U.S. sanctions on Russia's top energy producers Rosneft ROSN.MM and Lukoil LKOH.MM have put Indian refiners in a bind.

For the past three years, India's oil processors have thrived on discounted Russian barrels that boosted their refining margins, profits, and share prices. Now, as the U.S. and Europe tighten curbs on Moscow's exports, those windfall gains may fade.

New Delhi has so far publicly resisted U.S. pressure to halt buying Russian oil, arguing that it was vital to its energy security. But it is now weighing whether trimming Moscow's barrels could buy relief from President Donald Trump's 50% tariffs on India's goods exported to the U.S.

That has left the refiners exposed, but at least for now, they are putting up a brave front.

Reliance, India's largest refiner, said it will "address these conditions while maintaining relationships with its suppliers".

The company, which has a long-term deal to buy nearly 500,000 barrels per day from Rosneft, is reassessing those arrangements after Washington's move. The U.S. has given companies until November 21 to wind down transactions with Rosneft and Lukoil.

Reliance plans to stop importing oil from Rosneft and is scouting for alternative supplies from the Middle East and Brazil.

State-run refiners, including Indian Oil IOC.NS, Bharat Petroleum BPCL.NS and Hindustan Petroleum HPCL.NS, are poised to sharply cut Russian oil supplies.

With discounts on Russian barrels already shrinking from as much as $25 to barely $2-$2.50 a barrel due to Ukraine's attacks on Russia's oil infrastructure, India's refiners face a squeeze on the margins that powered their robust profits. Costlier Middle Eastern or Brazilian supplies will lift input costs, especially for private players such as Reliance whose pricing is aligned to global benchmarks.

Reliance's imports from Rosneft account for a major portion of India's Russian oil purchases, and its Jamnagar complex is one of the few capable of processing a wide range of crude grades.

"Any hit to Russian supplies will increase its participation (in the spot market) and that would tighten the spot market and raise prices. They are a giant player," said Tushar Tarun Bansal, senior director at oil consultancy Alvarez and Marsal.

The ripple effect could raise India's import bill, tighten competition for similar grades in Asia, and strain fuel pricing at home.

"While India can substitute purchases from Russia with suppliers from the Middle East and other regions, the import bill for crude oil would increase," said Prashant Vashisth, vice president at Moody's affiliate ICRA Ltd.

Read this commentary by Reuters' Ron Bousso on how Trump's India squeeze will push Russian oil further into the shadows.

RACING AGAINST SANCTIONS DEADLINES

The European Union's new rule, which bans imports of fuel refined from Russian crude processed within 60 days of shipment, adds another layer of complexity. Europe accounts for a large chunk of Reliance's diesel and aviation fuel exports.

Meanwhile, a White House official said that Indian refiners are already cutting Russian oil imports by 50%. Indian sources said the cut was not yet visible, though it could show up in import numbers for December or January.

Refiners had already placed orders for November loading that included some cargoes for December arrival, multiple sources said.

For now, refiners are expected to keep some barrels flowing through intermediaries. But as sanctions tighten and the EU's January 21 deadline approaches, even indirect trade could become riskier.

Can the Indian refiners ride out this rough phase? Write to me at [email protected]

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

MARKET MATTERS

Rattled by nearly $17 billion in foreign outflows this year, India is fast-tracking financial reforms to shore up investor confidence and strengthen its banking and capital markets.

The government and regulators are rolling out reforms to ease capital access, attract overseas funds, and boost domestic participation.

India is planning to allow direct foreign investment in state-run banks of up to 49%, more than double current limits, a source said.

Foreign investors have sold nearly $17 billion net in Indian equities this year, making India the worst-hit Asian market in terms of foreign portfolio withdrawals.

Read this in-depth analysis by Reuters journalists Jayshree P Upadhyay, Jaspreet Kalra and Gopika Gopakumar.

THIS WEEK'S MUST-READ

Apart from scrambling to rejig its Russian oil contracts, Reliance Industries is now facing another challenge - this time from China.

Mukesh Ambani's conglomerate is rushing to ship battery component orders out of China before Beijing's new export curbs take effect on November 8.

A Reliance team has travelled to China to speed up the process, amid uncertainty over how strictly Beijing will enforce its widening export-control regime. The new rules require companies to seek approval before exporting battery-manufacturing equipment - part of China's bid to protect its dominance in the global electric battery industry.

Read this exclusive report by Reuters journalists Lewis Jackson and Aditi Shah.

(Reporting by Nidhi C Sai; Editing by Muralikumar Anantharaman)

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Oct 27 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:

• HPCL - SOURCED 54.6 MT OF CRUDE OIL FROM HOECL

• HPCL - CRUDE OIL CAUSED OPERATIONAL ISSUES AND CORROSION

Source text: ID:nBSE3c9gZT

Further company coverage: HPCL.NS

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Adds details from paragraph 4

By Nidhi Verma and Florence Tan

NEW DELHI/SINGAPORE, Oct 17 (Reuters) - Two Indian refiners have bought 4 million barrels of Guyanese crude oil from U.S. major Exxon Mobil XOM.N to be delivered at the end of 2025 or in early 2026, in rare imports from the South American producer, trade sources said on Friday.

Indian Oil Corp IOC.NS, the country's largest refiner by capacity, has bought 2 million barrels of Golden Arrowhead (GAH) crude, its first purchase of the grade, which will arrive in late December or in early January, they said on condition of anonymity.

Another refiner, Hindustan Petroleum Corp HPCL.NS, has bought Liza and Unity Gold crude for the first time, with 2 million barrels set for delivery during the same period, the sources said.

India is diversifying its crude supplies by trying out new grades from South America where production is growing.

Adding more crude sources would also help refiners to replace some imports of Russian oil. The U.S. is pressuring New Delhi to stop buying Russian crude to help end the war in Ukraine.

Guyana is ramping up exports as its oil production from a consortium led by Exxon has risen to 770,000 barrels per day (bpd) following the start-up of the group's fourth floating output facility.

The country's crude exports reached an all-time high of 938,000 bpd in October, data from analytics firm Kpler showed, since it started exports of the latest grade GAH in July.

(Reporting by Nidhi Verma in New Delhi and Florence Tan in Singapore; Editing by Clarence Fernandez and Jamie Freed)

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By Nidhi Verma

NEW DELHI, Oct 16 (Reuters) - India plans to cut imports of liquefied petroleum gas from the Middle East as its state refiners look to boost purchases from the U.S., sources with knowledge of the matter said, bolstering New Delhi's efforts to secure a broader trade deal with Washington.

The state refiners have already informed their traditional suppliers of LPG in Saudi Arabia, United Arab Emirates, Kuwait and Qatar about the likely cut in LPG purchases, the sources, who spoke on condition of anonymity, said.

The planned size of the LPG supply reduction from the Middle East wasn't clear, but Reuters reported in July that India aims to source about 10% of its cooking gas imports from the U.S. beginning in 2026.

During Prime Minister Narendra Modi’s visit to Washington in February, India pledged to raise U.S. energy purchases from $10 billion to $25 billion, with both nations targeting $500 billion in bilateral trade by 2030.

Indian officials are currently in Washington for trade talks.

India's trade surplus with the U.S. is a key irritant for President Donald Trump, who has imposed a 50% tariff on Indian goods - with 25 percentage points of that total specifically levied to penalise New Delhi for purchases of Russian oil.

Washington says Moscow is using petroleum revenue to fund its war against Ukraine.

Trump on Wednesday said Modi has assured that India will stop buying Russian oil.

Indian state refiners and Middle Eastern producers in Kuwait, Qatar and UAE did not respond to Reuters emails seeking comment. Saudi Aramco declined comment.

The sources said LPG will be sourced on a delivered basis from the U.S.

LPG is a mix of propane and butane used as cooking fuel and is mainly imported by state retailers Indian Oil Corp IOC.NS, Bharat Petroleum Corp BPCL.NS and Hindustan Petroleum Corp HPCL.NS and sold at a subsidised price to households.

Indian state refiners are jointly seeking to buy about 2 million metric tons of U.S. LPG in 2026 through tenders.

In 2024, the South Asian nation imported about 65% of its LPG consumption of 31 million tons, according to the government data.

The refiners imported about 90% of their 20.4 million tons under term deals with countries including the UAE, Qatar, Kuwait, and Saudi Arabia.

This year, India has bought some parcels of U.S. LPG, taking advantage of the arbitrage window as China, locked in a tariff war with Washington, slowed purchases.

In April, Reuters reported that India plans to scrap import tax on some U.S. products, including LPG, as part of a broader trade deal.

In 2024, India imported 8.1 million tons of LPG from UAE, 5 million tons from Qatar, 3.4 million tons from Kuwait, and 3.3 million tons from Saudi Arabia, the sources said. The nation also bought small quantities from Bahrain and Oman.

(Reporting by Nidhi Verma; Additional reporting by Sarah El Safty
Editing by Shri Navaratnam)

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SINGAPORE, Oct 14 (Reuters) - For tenders of crude and oil products, please click:

Crude CRU/TENDA Naphtha NAP/TENDA Gasoline MOG/TENDA Jet/Diesel MDIS/TENDA Fuel Oil FUEL/TENDA

(Reporting by Jeslyn Lerh;)

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SINGAPORE, Oct 13 (Reuters) - For tenders of crude and oil products, please click:

Crude CRU/TENDA Naphtha NAP/TENDA Gasoline MOG/TENDA Jet/Diesel MDIS/TENDA Fuel Oil FUEL/TENDA

(Reporting by Jeslyn Lerh; Editing by Rashmi Aich)

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Adds comment

Sept 25 (Reuters) - Indian refiners' crude throughput declined 4.4% month-on-month in August to 5.27 million barrels per day (22.29 million metric tons), according to provisional government data released on Thursday.

Refinery throughput in July was at 5.51 million barrels per day (23.31 million metric tons).

On a year-on-year basis, refinery throughput rose 3% in August.

India's fuel consumption in August hit an 11-month low, slipping 3.8% month-on-month to 18.73 million metric tons, oil ministry data showed.

India is the world's third-biggest oil importer and consumer.

"Refinery throughput declined in August compared to July, primarily due to seasonal monsoon-related disruptions, scheduled maintenance shutdowns, and one of the refineries operating at reduced capacity," Prashant Vasisht, vice president and co-head of corporate ratings at ICRA, said.

Meanwhile, Indian oil refiners are increasing gasoline and diesel exports to their highest levels in several years, driven by expanded crude processing capacity and increased domestic ethanol blending that has freed up fuel supplies for overseas markets, traders and analysts said.

This year, India's crude processing is expected to increase by 130,000 to 160,000 barrels per day to about 5.51 million bpd, with gasoline exports hitting a record high of around 400,000 bpd, according to consultancy Wood Mackenzie.

In July, European Union countries approved an 18th sanctions package against Russia over its war in Ukraine, with a lower price cap on Russian oil.

The rise in Indian exports is expected to help meet Europe's winter heating oil demand and support Indian refining margins, after refiners turned to discounted Russian crude.

REFINERY PRODUCTION IN TERMS OF CRUDE THROUGHPUT (in 1,000 tons):

Source: Ministry of Petroleum and Natural Gas

IOC: Indian Oil Corp IOC.NS

BPCL: Bharat Petroleum Corp Ltd BPCL.NS

HPCL: Hindustan Petroleum Corp Ltd HPCL.NS

CPCL: Chennai Petroleum Corp Ltd CHPC.NS

MRPL: Mangalore Refinery and Petrochemicals Ltd MRPL.NS

Reliance Industries Ltd RELI.NS

Please note that CPCL's CBR refinery is decommissioned under shutdown due to limitations in meeting required product specifications with the existing configuration.

(Reporting by Noel John and John Biju in Bengaluru; Editing by Sonia Cheema and Shreya Biswas)

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