India’s Chennai Petroleum Corp. has deferred its planned two-month shutdown of nearly a third of its 190,000 barrels-per-day Manali refinery in southern India by a month to meet local fuel demand. For full story, click here
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Reliance Industries has resumed crude oil production from its predominantly gas-rich KG-D6 block after more than a month-long planned shutdown for connecting new wells. For full story, click here
South Korea’s SK Energy reported that it will keep crude operation rates steady in April from March after it decided to postpone the shutdown of its No.4 crude unit. For full story, click here
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