RIL plans Jamnagar unit maintenance first week of Feb

SINGAPORE Mon Jan 28, 2013 9:54am IST

A February 2003 photo of the Reliance Industries Limited petrochemical plant at Jamnagar. REUTERS/Handout/Files

A February 2003 photo of the Reliance Industries Limited petrochemical plant at Jamnagar.

Credit: Reuters/Handout/Files

Related Topics

Stocks

   

SINGAPORE (Reuters) - Reliance Industries is planning to move forward its maintenance at a crude distillation unit (CDU) at its 580,000 barrels-per-day (bpd) Jamnagar refinery by about a week to February 6 or 7, traders said on Monday.

When contacted, Reliance's spokesman was unable to comment on the matter.

Traders said the CDU at the export-oriented newer complex will shut for a maximum of 25 days. The maintenance was initially planned for January but it was later postponed to around February 15.

Reliance's maintenance is being scheduled just as Indian diesel demand is picking up slightly, which could curb supply and boost margins, traders said.

Essar Oil offered only one diesel cargo for January loading, after selling three cargoes for December. The company has yet to offer a cargo for February.

This is likely due to a pick-up in diesel demand in India, where it is used in the industrial, agricultural and transport sectors and closely follows the country's economic health.

India's economy will gather steam this year after its worst performance in a decade as a slew of reforms take hold and the central bank eases policy to spur growth, a Reuters poll found.

Asian gasoil margins have stayed above $19 a barrel since November, last year. They could go higher from the second quarter as maintenance season begins, traders said.

Reliance operates another plant in Jamnagar which has a capacity of 660,000 bpd. The site was hit by a fire last month that brought down on the refinery's CDUs for about a week.

(Reporting by Seng Li Peng and Jessica Jaganathan; Editing by Tom Hogue)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Reuters Showcase

Record Profit

Record Profit

Apple iPhone sales trample expectations as profit sets global record  Full Article | Related Story 

Obama In India

Obama In India

In parting shot, Obama prods India on religious freedom.  Full Article 

Restructuring

Restructuring

Max India to be split into three separate companies.  Full Article 

India’s Male Tenor

India’s Male Tenor

India’s lone male tenor wants to ‘Indianise’ opera  Full Article 

Indian Equities

Indian Equities

Hornbill raising $250 mln to invest in equities - partner.  Full Article 

Ratings Downgrade

Ratings Downgrade

S&P downgrades Russia's sovereign credit rating to "junk".  Full Article 

Facebook Outage

Facebook Outage

Facebook takes blame for service outages, which hit wider Web.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage