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Oil product stockpiles at the UAE’s Port of Fujairah climbed to a two-week high, the first gain in three weeks, led by increases in fuels for marine bunkers and power generation. The total inventory on Aug. 9 was 19.349 million barrels, up 2.2% from a week earlier and the most since July 26, according to . ....
REFINERY NEWS ROUNDUP: Limited maintenance in Middle East | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
FUJAIRAH DATA: Oil product stocks fall to four-month low as fuel oil exports rise hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Fujairah stands to lose out if India’s COVID-19 crisis slows economic growth The UAE’s Port of Fujairah stands to lose out on crude oil and refined product exports and bunker sales if the spiraling COVID-19 crisis in India translates into slowing economic growth for Asia’s third-largest economy. India’s second COVID-19 wave could knock off as much as 2.8 percentage points from GDP growth in the fiscal year ended March 31, 2022, S&P Global Ratings said in a May 5 report. It said it was reconsidering its 11% GDP growth forecast, against a contraction of 8% in 2020. “Much will depend on social distancing, whether enforced or voluntary, the pace of vaccinations, and the degree to which previous infections provide immunity,” it said. “The government is responding to the latest outbreak with a series of localized lockdowns, while avoiding a nationwide lockdown, which would have more adverse economic implications.” ....
Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now India s second COVID-19 wave could knock off as much as 2.8 percentage points from GDP growth in the fiscal year ended March 31, 2022, S&P Global Ratings said in a May 5 report. It said it was reconsidering its 11% GDP growth forecast, against a contraction of 8% in 2020. Much will depend on social distancing, whether enforced or voluntary, the pace of vaccinations, and the degree to which previous infections provide immunity, it said. The government is responding to the latest outbreak with a series of localized lockdowns, while avoiding a nationwide lockdown, which would have more adverse economic implications. ....