Refining margins improved in the March quarter1 min read . Updated: 11 Apr 2013, 03:53 PM IST
Improvement led by maintenance shutdowns in the US and better product cracks
Singapore gross refining margins (GRMs), an important benchmark for refiners, improved in the March quarter compared with both a year ago and sequentially.
Indian refiners are thus expected to report better financial performance for the quarter. But refining margins for March declined sequentially because a large refining capacity restarted. The refining business outlook will remain subdued in the near term as capacity additions are higher than demand.