Analysis

Latest news from the petcoke industry

• After subdued demand and realisation in the past few quarters in the Indian cement industry, optimism started setting in after the Budget. Lower petcoke and coal prices are also expected to boost profits of the cement industry. The March quarter is expected to report reduced operating costs per ton, by three percent as compared to same quarter last year. The government expenditure in the infrastructure sector, which represents 40 percent of cement consumption in the country, looks promising.

• On the US Gulf Coast, refinery utilization fell 1.9 percent to 93.2 percent after a coker at LyondellBasell's 268,000 bpd Houston refinery caught fire. The refinery was forced to cut runs by roughly 30 percent, amounting to 2 percent of regional coking capacity. Earlier last week, Citgo shut a 44,900 bpd delayed coker at the West Plant of its 157,500 bpd Corpus Christi, Texas, refinery.

• India's consumption of petroleum products hit a record 183.50 million tons in 2015-16, growing by 10.9 percent over 2014-15. Annual consumption growth was higher at 14.7 percent in the January-March quarter and 16.4 percent in March alone. Significant rise in consumption of products used for construction or industrial purposes was observed: Bitumen (16.9 percent), petcoke (42.9 percent) and furnace oil (39.4 percent).

• Detroit Corporation Counsel Melvin Butch Hollowell said the city is seeking to amend its ordinance to establish a specific set of rules for petcoke. The ordinance amendment would govern how the materials can be stored and transported, including loading and unloading of petcoke to prohibit excessive dust.