Related Articles
The government has hiked fuel taxes significantly
Forward article link
Share PDF with colleagues

Outlook positive for India despite Covid woes

The county’s crude demand may remain constrained this year, but the future is still bright

India’s refining sector is set to emerge from a punishing second quarter during which a resurgence of the coronavirus triggered a slew of localised lockdowns, cratering domestic demand. The outbreak has been brought to heel, with daily infection rates down by more than 85pc from their peak in May and local restrictions are gradually being eased. But the recovery is still on shaky ground. As with most emerging markets outside of China, India’s vaccination rate is crushingly low. Despite a vast pharmaceutical manufacturing base, the country has administered just 24 doses per 100 residents. A strong rebound in the global crude oil market has been compounded by hefty fuel tax hikes

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Letter from South America: Bolivia's shrinking gas role
21 January 2022
Declining production and cheaper LNG threaten the country’s role as gas supplier to its neighbours
US LNG eases European storage crisis
20 January 2022
The US is set to play an even larger role in the global gas market this year, with the country gearing up to overtake Australia as the world’s largest LNG exporter
Wintershall Dea quits Brazil, Argentine shale
20 January 2022
The German independent is overhauling its Latin American portfolio
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video