Indian Oil Goes on a Buying Binge

Indian Oil plans to increase its spot cargo purchases significantly, leveraging the expanded Dodge terminal in India. This is part of a broader series of terminal expansions aimed at boosting import capacity. The demand for LNG is high due to low prices, benefiting industries like power and chemical plants. The drop in LNG prices is attributed to an oversupply in the market, following large-scale projects initiated after Japan's nuclear shutdowns. This oversupply has led to a significant price drop, benefiting buyers like India and Thailand.

What is Indian Oil's plan for LNG spot purchases after October?

• To stop buying spot cargoes

• To buy five spot cargoes a month

• To buy two spot cargoes a month

• To buy one spot cargo a month

What is the purpose of the Dodge terminal expansion in Western India?

• To export more LNG

• To refine natural gas

• To increase import capacity

• To store crude oil

By 2020, what is the expected import capacity of India in million tons?

• 65 million tons

• 55 million tons

• 45 million tons

• 30 million tons

What event led to the rise in LNG prices earlier this decade?

• The European gas shortage

• The US shale boom

• The Japan nuclear shutdowns

• The Middle East oil crisis

How much have spot prices around Singapore fallen since October 2014?

• 50%

• 40%

• 60%

• 30%