Category

Countries

Indian Refiners Seek Artificial Mechanism to Recover Transition Cost to BS VI fuel

Indian Refiners Seek Artificial Mechanism to Recover Transition Cost to BS VI fuel

  • 25-Feb-2020 4:00 PM
  • Journalist: Peter Schmidt

Public and private oil refiners of India seek government’s intervention to compensate for production and dispensing finances involved in the shift from BS IV fuel to BS VI fuel. This shift is an attempt by the Indian government to lower the pollution index of the country, that is anticipated to be commenced by mid of March 2020. However, BPCL, one of largest petroleum refineries will be commencing the supply of BS VI fuel from March 1, 2020 across the country. It was reported that the director of BPCL aims to compensate for the investment by stating the price of fuel with an extra cost between INR 0.70 to INR 1 per litre. Furthermore, as the prices of the product are marked based on the import parity, an artificial mechanism is required to make up for the difference between the import parity and the aspired compensated prices so that the domestic producers can recover their investment cost.

Related News

Stabilised Naphtha Prices in China Contrasted by Increases in Japan and South Korea
  • 18-Jun-2024 5:22 PM
  • Journalist: Jung Hoon
Haldia Petrochemicals Seals 10 Year-Long Naphtha Deal with QatarEnergy
  • 14-Jun-2024 1:31 PM
  • Journalist: Jacob Kutchner
Global Naphtha Dynamics: A Week of price oscillations and supply-demand disruption
  • 04-Jun-2024 2:42 PM
  • Journalist: Jung Hoon
QatarEnergy and Japan’s Idemitsu Kosan Sign Decade-Long Naphtha Supply Deal
  • 05-Jun-2024 11:46 AM
  • Journalist: Patrick Knight