
(The refining business outlook will remain subdued in the near term as capacity additions are higher than demand.)
Refining margins improved in the March quarter
1 min read . Updated: 11 Apr 2013, 03:53 PM ISTImprovement 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.
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