From The Economic Times · ET Online · · 1m 10s
India Diesel Exports Continue Amid US Ban Threat
India pledges diesel exports despite US ban threat as refining capacity expands.
In brief
India pledges diesel exports despite US ban threat as refining capacity expands. India will continue diesel exports to global markets even if the US imposes a ban, leveraging its growing refining capacity to meet international demand. Originally reported by The Economic Times.
India's diesel export commitment
India will continue diesel exports as planned even if the US moves ahead with a ban on overseas fuel sales.
“We honor our commitments”
Global diesel market strain
Global diesel prices have climbed sharply due to US-Iran conflict and Russia-Ukraine war.
US pump price record
US pump prices hit record highs prompting speculation of a diesel export ban to hold domestic supply.
Refining capacity growth
India's refining capacity stands at 267 MTPA today and is set to reach 290 MTPA within a year.
Foreign investment in refining
Saudi Aramco and Abu Dhabi National Oil Co. are in talks to invest in India's refining sector.
India's fuel security
India handled the Strait of Hormuz crisis with uninterrupted LPG supplies through coordination with UAE, Navy, and external agencies.
Global market position
India has become the second-largest seaborne diesel supplier after the US, accounting for 10 percent of global shipments.
The key point
India will continue diesel exports to global markets even if the US imposes a ban, leveraging its growing refining capacity to meet international demand.
