Oil prices resumed their decline on Monday, falling around 1 per cent as worries about a drop in demand for fuel products in the wake of yet more European lockdowns dominated trading.

Goldman Sachs sees the oil price pullback as a buying opportunity and forecasts Brent crude reaching $80 per barrel this summer even as the recent rally in prices "takes a big breather."

India's gas market is in a sweet spot with the completion of new trunk pipelines and the increased availability of both domestic and imported gas.

Crude oil futures fell 2.19 per cent to Rs 4,337 per barrel on Friday as participants reduced their positions on low demand.

The United States on Friday condemned the drone strike on a Saudi oil refinery claimed by Yemen's Huthi rebels, calling it an attempt to "disrupt global energy supplies."

The government has made progress on Bharat Petroleum Corporation (BPCL) divestment with developments on key queries raised by potential buyers, but multiple steps of the process remain outstanding and there are still questions that require further clarity, according to Fitch Ratings.

THE Indo-China standoff has had a telling effect on the coal gasification and urea manufacturing projects under execution by Talcher Fertilisers Ltd in Angul district. Work on the `13,277 crore Talcher project has been halted for ‘technical’ reasons shortly after the Centre took economic retaliation measures against China in the wake of the bloody border dispute.

Bhatinda Urea Revamp Project   
8Cost - Rs 700 crore
8Project Event: The Pre-Qualification for the LSTK contractor has been out and the discussion is still ongoing, It is likely to be finalized in May 2021 in place of March 2020.
Sulphuric Acid Greenfield Project        
8Cost - Rs 50 crore
8Project Event: The review is ongoing in the MoEF, clearance is likely to be elicited at the end of April 2021, RFQ for the local contractor as well as equipment supplier is likely to be released in June 2021.

8Arun Alagappan launches new fertiliser brand

8One ammonia shipment is coming up on 26 March 2021
8One Rock Phos shipment is coming up on 28 March 2021
8One Sulphuric acid shipment is coming up on 28 March 2021

8Thirteen companies are on the list of bidders for RCFL urea tender
8Get a full update here

A producer from China is heard to have announced its offer for PET resin (IV-0.89) grade in India.

On March 22, 2021, acetonitrile prices fell sharply in the Ahmedabad market.

C9 solvent drifted down today on the back of weakening demand and shortage of supply in the Chennai market.

On March 22, 2021, Petrochem sources confirmed that MEG prices have slipped in the Mumbai market. 

On March 22, 2021, styrene monomer prices moved down in the imported market.

On March 22, 2021, the demand for PBT was moderate and prices remained steady in the Indian market.

The international crude oil price of Indian Basket was quoted at around $62.67 per barrel on March 22, 2021.

DEG prices have been revised at Hazira.

VAM prices have increased today in the Kandla port.

On March 22,2021 PolyCarbonate (PC) prices increased in the Ahmedabad market.

On March 22, 2021, phenol prices drifted down in the Ahmedabad market.

A revision in Iso butanol prices has been announced at Hazira.

Ethylene Dichloride prices have been revised at Hazira.

On March 22,2021 ABS (MIF45) prices drifted lower in the Mumbai market.