As Sales Rise, Petrol Import In July Touches Highest Level Since 2011

Crude oil imports into the world's third-largest consumer declined 1.2 per cent from a year earlier to 19.34 million tonnes.

As Sales Rise, Petrol Import In July Touches Highest Level Since 2011

Petrol imports rose to 230,000 tonnes in July, the highest since PPAC data going back to 2011

Highlights

  • Petrol imports rose to 2,30,000 tonnes in July, government data shows
  • Crude oil imports fall 1.2% on year in July, but rise 14.6% on quarter
  • Separate official data showed earlier petrol sales up 8.8% on year

India's crude oil imports declined in July from a year earlier, while petrol imports climbed to their highest since at least April 2011, data from the oil ministry's Petroleum Planning and Analysis Cell (PPAC) showed on Wednesday.

Crude oil imports into the world's third-largest consumer declined 1.2 per cent from a year earlier to 19.34 million tonnes, but increased 14.6 per cent from the previous month.

Petrol imports rose to 230,000 tonnes in July, the highest since PPAC data going back to 2011.

Government data published earlier this month showed petrol sales were 8.8 per cent higher from a year earlier at 2.52 million tonnes.

LNG imports, meanwhile, fell to their lowest since February 2018 at 850,000 tonnes.

The country's imports of crude oil have stalled in recent months, with both coal and liquefied natural gas (LNG) also soft. This could be attributed to Indian refiners adjusting to the loss of cargoes from Iran after the US did not extend waivers to buyers of Iranian crude beyond the beginning of May.

Meanwhile, imports of oil products rose by about 9 per cent from a year earlier to 2.81 million tonnes. Year-on-year exports fell 5 per cent last month to 5.07 million tonnes, the data showed.

Exports in Naphtha fell to their lowest since October 2015 at 400,000 tonnes.

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