India’s crude oil imports in September fell 6.7% m/m

On an annual basis, imports fell 5.8%, according to data from the Petroleum Planning and Analysis Cell website.

The decline in entries came amid maintenance at refiners such as Reliance Industries and Indian Oil Corp.

Russia’s share of India’s crude oil imports in April-September rose from 0.7% a year earlier to 17%, according to data provided by sources.

India has emerged as the second-biggest buyer of Russian oil after China, taking advantage of falling prices as Western buyers stay away from Moscow’s invasion of Ukraine.

Imports of petroleum products fell for the second month in a row, about 4% over the previous month, reaching 3.48 million tonnes in September, while exports fell 4.8%. Of the 4.98 million tons of exports in September, diesel accounted for 2.69 million tons.

India, Asia’s third-largest economy, has excess refining capacity and also exports refined fuels.

NOTE: Import and export data are preliminary as private refiners share figures at their discretion.

All figures in millions of tons:

2022 2022 2022 2022 2021 2021 2021

CRUDE OIL September August July September August July

IMPORT 16.46 17.64 20.95 17.47 17.39 15.02

Import:

2022 2022 2022 2022 2021 2021 2021

PRODUCT September August July September August July

LPG 1.46 1.58 1.43 1.57 1.70 1.42

Gasoline 0.15 0.00 0.06 0.15 0.00 0.00

Naphtha 0.18 0.16 0.13 0.13 0.02 0.10

Krosne 0.00 0.00 0.00 0.00 0.00 0.00

Diesel 0.01 0.01 0.15 0.01 0.01 0.00

Fuel oil 0.56 0.69 0.76 0.43 0.70 0.95

All 3.48 3.63 3.66 3.51 3.19 3.54

Export:

2022 2022 2022 2022 2021 2021 2021

PRODUCT September August July September August July

Gasoline 0.67 1.02 1.11 0.85 0.90 1.00

Naphtha 0.47 0.41 0.36 0.66 0.64 0.48

Diesel 2.69 2.36 2.18 2.80 2.60 2.26

Heating oil 0.16 0.22 0.19 0.13 0.16 0.30

Jet fuel 0.69 0.75 0.58 0.29 0.32 0.34

All 4.98 5.23 4.68 4.94 4.80 4.70

NOTES:

The total may not increase because not all items are included in the table and numbers are rounded up or down. Figures for previous months have been revised.

Serena Hoyles

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