India at "take off" stage-II: Naphtha regains importance – 31 Mar 2016

Indian naphtha exports have fallen y/y by around 21 thousand b/d between January and November 2015, with the decline extending to 44 thousand b/d between September and November, as India consumes more of its own output due to the rapid growth in demand.
-- India has long been a key short-haul naphtha supplier for the Asian market, so the decline in exports has been felt very rapidly. 
-- Moreover, these shipments are unlikely to return. 
-- India exported just over 0.1 mb/d of naphtha in October 2015; this is the smallest amount it has shipped overseas since February 2009,
-- In November 2015, Indian naphtha exports remained lower y/y by 52 thousand b/d.