 "The state-run Bharat Petroleum Corporation (BPCL) and private refiner Reliance Industries (RIL) pin their hopes on the US driving season among other factors to improve refining prospects in the current financial year (FY25) after reporting weak first")
Despite a rise in outbound trade volumes, lower global crude oil prices pulled down earnings from the export of refined petroleum products in May, latest data released by the Petroleum Planning and Analysis Cell (PPAC) showed. Receipts from petroleum exports fell 13.15 per cent to $3.3 billion in May, down from $3.8 billion in May 2024.
In May, Brent crude prices hovered between $60 and $62 per barrel, compared to $80 per barrel a year earlier. As a result, there was a fall in the export of aviation turbine fuel and high speed diesel. In contrast, earnings had risen by
