ProbarGOLD- Free

PET PROJECTS
Business Standard|August 12, 2024
Why state-run oil companies are spending billions on petchem capacity, amid oversupply and weak margins
- S DINAKAR

In the boardrooms of Indian state refiners and in the halls of the oil ministry, there is a buzz surrounding an esoteric term: The Petrochemical Intensity Index (PII). Indian oil companies plan to produce more of value-added chemicals from processing crude oil while reducing the volume of fuels, whose demand is expected to eventually extinguish as the world shifts to cleaner energy.

Until now, many of these chemicals, the building blocks of plastics and paint used in homes, hospitals, and industries came from China. India depends on imports to meet 19 per cent and 30 per cent of polypropylene and polyethylene, respectively, the basic commoditised chemicals, and 67 per cent and 81 percent on PVC and Toluene, which are valueadded substances, shows CareEdge data.

But Indian refiners plan to catch up. By 2030, these chemicals may be shipped from Panipat, Paradip, Kochi, Barmer, Dahej, or Nagapattinam.

Hindustan Petroleum's new 180,000 barrels per day Barmer refinery has a PII of above 20 per cent, the highest among state refiners, former company chairman Mk Surana has said.

Fears of attrition in the fuels business and robust demand for chemicals have prompted refiners to add petchem units as a form of insurance, state-run refining officials tell Business Standard, despite concerns about oversupply.

The energy transition will reduce demand for oil products, but increase opportunities to capture the growing demand for petchem, McKinsey says.

Refiners will need to find ways to make much less gasoline, marginally less diesel, and more jet fuel and petchem feedstocks, the US-based management consultant has said. Petchem is expected to be the most important driver of global oil demand growth over the medium term, says Paris-based International Energy Agency.

Esta historia es de la edición August 12, 2024 de Business Standard.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición August 12, 2024 de Business Standard.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE BUSINESS STANDARDVer todo
As Mumbai Marathon Turns 20, Brands Dash to Finish Line
Business Standard

As Mumbai Marathon Turns 20, Brands Dash to Finish Line

By the time the sun had cast its vibrant glow across the Maximum City, Mumbaikars were up and running.

time-read
2 minutos  |
January 20, 2025
AI strategy in action, critical to our success'
Business Standard

AI strategy in action, critical to our success'

DEBASHIS CHATTERJEE, chief executive officer and managing director of LTIMindtree, said that the company's artificial intelligence (AI) strategy -- AI in Everything, Everything for AI, and AI for Everyone -- is delivering results for both the firm and its clients. In a video interview with Shivani Shinde following the company's 2024-25 (FY25) third-quarter (Q3) results, he shared insights on the outlook for 2025-26 (FY26), the role of AI in efficiency-driven deals, and the state of discretionary spending. Edited excerpts:

time-read
2 minutos  |
January 20, 2025
Tesla Rival VinFast readies India drive for export hub
Business Standard

Tesla Rival VinFast readies India drive for export hub

EV major plans first stop in Tamil Nadu

time-read
2 minutos  |
January 20, 2025
India not too perturbed by Trump's disruptive agenda
Business Standard

India not too perturbed by Trump's disruptive agenda

Today, Donald Trump, well known for his discomfort with global rules that constrain unilateral actions by individual countries, will be sworn in as the 47th President of the United States of America, a country that has played a leading role in developing internationally accepted rules in various spheres, especially since the end of the Second World War.

time-read
2 minutos  |
January 20, 2025
Commercial realty: Growing demand but limited supply
Business Standard

Commercial realty: Growing demand but limited supply

Buoyed by a rise in demand and absorption, India's commercial real estate landscape for the top nine cities, including four metros, showed dynamism in 2024 amid resilient economic growth.

time-read
1 min  |
January 20, 2025
Walking with allies: Bihar's Budget demands loom large
Business Standard

Walking with allies: Bihar's Budget demands loom large

If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. ARCHIS MOHAN explains how the NDA government is delivering on promises

time-read
3 minutos  |
January 20, 2025
Guns in Gaza fall silent as truce begins, finally
Business Standard

Guns in Gaza fall silent as truce begins, finally

Three hostages arrive in Israel as fragile ceasefire takes hold after 3-hour delay during which Israeli warplanes and artillery pounded Gaza, killing 26

time-read
2 minutos  |
January 20, 2025
Business Standard

Scaling large & midcap peak, leaving rivals at base camp

UTI Large & Mid Cap Fund, launched in May 2009, has consistently ranked in the top 30 percentile within the large and midcap fund category of the CRISIL Mutual Fund Ranking (CMFR) for four consecutive quarters up to September 2024.

time-read
1 min  |
January 20, 2025
Business Standard

Current environment conducive for pvt investments: CII survey

Nearly three-fourths of firms taking part in an industry survey have said that the current economic environment is conducive to private investment.

time-read
2 minutos  |
January 20, 2025
Fireworks before big bang Monday
Business Standard

Fireworks before big bang Monday

United States President-elect Donald Trump has returned to Washington DC for his second presidential inauguration on Monday. He will be sworn in as the 47th president of the US, alongside JD Vance, who will take oath as vice-president.

time-read
2 minutos  |
January 20, 2025

Usamos cookies para proporcionar y mejorar nuestros servicios. Al usan nuestro sitio aceptas el uso de cookies. Learn more