Showing posts from February, 2023

India's Petroleum Trade: An overview and some analysis

I thought of creating one comprehensive diagram that could capture everything about India's Petroleum, Oil and Lubricants (POL) trade for the calendar year 2022. The result is a Sankey diagram you see below (you can zoom it as it's a high res image):  The domestic production mentioned on the left-hand side pertain to domestically drilled crude oil in India. The data for this is taken from MoPNG's website. The rest of the trade data is from DGCIS. India majorly imports crude and exports refined petroleum products.  India has 23 refineries with a total installed capacity of around 250 MT per annum . These refineries process crude oil into various petroleum products that meet domestic as well as international standards and specifications.  A recent trend that has emerged in India's petroleum trade is the increase in crude oil imports from Russia. The main reason behind this surge in Russian crude oil imports is the geopolitical situation arising from the conflict between

Akamaisation, friendshoring, nearshoring etc.

What's Akamaisation ? Akamaisation refers to the idea of companies going local in order to remain global. I had proposed this term as a parallel to the concept of deglobalisation. The concept of Akamaisation arises from the need for multinationals to adjust their international supply chains in response to changes in the globalisation landscape. Companies are leveraging Industry 4.0 advancements such as automated manufacturing, robotics, and IoT to create more agile and localized production processes in response to the developing geopolitical and economic competitions. To provide a brief background, the good years of globalisation were marked by a concentration of production in labor-intensive countries, such as China and nearby countries like Taiwan, Korea, and ASEAN. This was due to factors like falling tariffs, technological advancements, and logistics optimisation. However, data suggests that this model peaked around 2012-13, a few years after the financial crisis. Both merchan