Topic
liquefied petroleum gas
Commodities India cooks up LPG safety net: Govt fixes refinery-wise output targets; Reliance gets biggest quota
India's petroleum ministry has, for the first time, fixed maximum LPG output targets for 21 refineries and upstream companies, capping combined output at 63,810 tonnes per day. Reliance Industries' Jamnagar DTA refinery gets the largest single quota of 18,000 tonnes a day, while imports had covered over 64% of demand before the Iran war shut the Strait of Hormuz.
Commodities India seeks more US LPG to cut West Asia reliance, aid trade deal
India has directed Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. to source at least 15% of 2027 LPG imports through US term contracts, according to Bloomberg. The move follows the country's first US term deals of 2.2 million tons and record US shipments of 3.9 million tons this year. LPG consumption fell 16% year-on-year to 2.35 million tons last month as Strait of Hormuz disruptions triggered shortages.
Logistics Dorian LPG Orders $115M VLGC Newbuild, Sells Three Older Tankers as Rates Surge
New York-listed VLGC owner Dorian LPG has ordered one 90,000 cu m dual-fuel VLGC at HD Hyundai for about $115m, scheduled for July 2029 delivery, while selling three older VLGCs for combined proceeds of $256m. The fleet moves come as VLGC earnings surge, with the company fixing 99% of its available days for the quarter ending June 30 at over $68,000 per day and 34% of July days at over $100,000 per day.
Commodities India's LPG imports from US set to cross 1 million tons in June, sources say
India’s LPG imports from the US are poised to exceed 1 million metric tons in June, a record, as the closure of the Strait of Hormuz forces New Delhi to seek costlier alternatives. Imports from the US are expected to reach 1.1-1.2 million tons, while supplies from the UAE via Oman's Sohar port are recovering. The government has also taken steps to reduce domestic LPG consumption by 15-20%.