Petroleum

Study papers of OPEC 2014 edition, having timeframe extended focus to 2040, project global oil demand to increase by over 21 million barrels per day (mb/d) during period 2013-2040, reaching 111.1 mb/d by 2040.

GV sources its petroleum products from Middle East, the single largest geographical region having huge reserves.

GV has deals in all three derivatives of Petroleum Products viz. Heavy Distillates , Middle Distillates and Light Distillates.


GV is poised for higher business growth in this segment majorly due to its unstinted sources, its focus on sourcing hubs, and its larger distribution network.

30-50 MMT of naphtha gets blended in gasoline worldwide. Drivers behind blending are sustained higher global crude futures and firm petrochemical demand, as well as the robust naphtha/gasoline blending economics in Europe. Poor demand for derivatives, weak petrochemical margins, and reduced quantities being fed into crackers are also the factors that lead naphtha to be blended with gasoline. The blending market is expected to grow @ 5% till 2019.

Geographically the Middle East is by far the biggest naphtha source and thus we source prominently from this region. The Mediterranean, and India are also suppliers for us. The major consuming countries usually have substantial petrochemical interests. Japan, Korea and Taiwan are major importers in Asia along with the European blenders.

For reasons similar to naphtha, pygas is blended in gasoline. However, the volumes remain relatively thin owing to stronger petrochemical/pygas economics, chiefly benzene. 65% of the world benzene is produced from pygas and thus this pathway is seen as serious competition to gasoline blending. GV has sources from the Middle East and is looking forward to add new ones in this challenging business segment.

GV is poised for higher business growth in this segment majorly due to its unstinted sources, its focus on sourcing hubs, and its larger distribution network.

Light Distillates
LPG   Gasoline
Naphtha      
         
Middle Distillates
Diesel   Kerosene
         
Heavy Distillates
Wax   Heavy Fuel Oil
Asphalt   Lubricating Oil
Base Oils   Bitumen
Coke      
         

GV sources its petroleum products, viz naphtha and pygas, mainly for gasoline blending.

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