Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
REFINING
Profits from refining in Asia are expecting another record year according to Rystad Energy.
- The EU ban on Russian petroleum products starting early next month is expected to squeeze the supply of fuels such as diesel making buyers more reliant on Asia.
- Cheap crude from Russian following crude sanctions in December are providing an additional boost to profit margins for refiners in China and India.
- “Asian refineries will have a good 2023,” said Mukesh Sahdev of Rystad Energy. “They will be well-supplied on crude, and they can capitalize on” the loss of Russian oil products to the US and Europe, he added.
- Singapore’s refinery hydrocracking margin over Dubai crude averaged a record 16.50$/bbl last year in data going back to 2015. Margins could be strong for four to five years on rising fuel demand and as investment in new refineries plateaus, Sahdev said.
- Global oil demand will grow by 1.9mbpd this year with Asia accounting for 1.5m according to Rystad.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok