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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Waning Enthusiasm

Waning Enthusiasm

Markets' post-election enthusiasm lost on consumers.  Full Article 

Global Growth

Global Growth

IMF cuts outlook, warns of stagnation risk in rich nations  Full Article 

Monsoon Revives

Monsoon Revives

Monsoon revival keeps rain above average   Full Article 

Wipro Results

Wipro Results

Firm sees strong sales growth, eyes Europe deals   Full Article 

Scourge of Inflation

Scourge of Inflation

Markets' post-election enthusiasm lost on consumers  Full Article 

Just Not Enough

Just Not Enough

Amazon's smartphone fails to kindle a "Fire" among reviewers.  Full Article 

Rising Market Value

Rising Market Value

Facebook goes express to mega-cap status  Full Article 

Mining Roadblock

Mining Roadblock

Coal India's plans for 20 mines hit by land, environment delays  Full Article 

Power Jolt

Power Jolt

UAE's TAQA pulls out of India power plant deal with Jaiprakash  Full Article 

Reuters India Mobile

Reuters India Mobile

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