The privately-owned Indian refiner had initially planned to shut down a 580K-b/d CDU at the export-focused section of its 1.24MM-b/d its Jamnagar refinery complex for three weeks in March but has decided to postpone this work to Sept. due to firm fuel exports margins seen in Feb. According to Argus, the Singapore 10-ppm-sulfur gasoil/Dubai margin had averaged $17.99/bbl from Feb. 1-17, which was 10.8% compared to the average crack in Jan. and a major improvement compared to the average margin of below $10/bbl in HI 2021.
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