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Informist, Monday, Jan. 27, 2025

 

MUMBAI – India's natural gas import bill for Apr-Dec rose 19.4% on year to $11.7 billion because of increasing demand, the Petroleum Planning and Analysis Cell said in a report. In December, the import bill rose more than 9% to $1.2 billion, the data showed. 

 

The country imported 28,586 million standard cubic metres per day during Apr-Dec, higher than 23,043 million standard cubic metres per day during the same period last year. The consumption of natural gas in December rose 7.3% on year to 6,048 million standard cubic metres per day, while the cumulative consumption jumped 11.6% on year at 55,496 million standard cubic metres per day. 

 

Meanwhile, India's crude oil import bill for the first nine months of 2024-25 (Apr-Mar) rose nearly 4% on year to $102.5 billion. In volume terms, the country's crude oil imports were 179.3 million tonnes in Apr-Dec, up 3.2% from the corresponding period last year, according to the report.

 

In December, India imported 19.9 million tonnes, up from 19.7 million tonnes in the same period last year. However, in value terms, the crude import bill fell 6% on year to $10.7 billion. India is the world's third-largest importer of crude oil, after the US and China.

 

The country's dependency on crude oil imports during Apr-Dec rose to 88.1%, up from 87.5% during the same period last year amid rising demand and falling domestic production. Domestic crude oil output fell nearly 2% on year to 21.6 million tonnes in Apr-Dec, while consumption of petroleum products rose 4% to 178.5 million tonnes from 172.6 million tonnes during the same period last year. Production of petroleum products in Apr-Dec rose 2.8% on year to 211.6 million tonnes.

 

During Apr-Dec, imports of gross petroleum products, including crude oil and petroleum products, increased nearly 4% on year to 217.9 million tonnes. The value of gross imports rose 4.1% to $120.7 billion, the data showed.

India's exports of petroleum products rose 1.5% on year to 47.5 million tonnes during Apr-Dec. However, the value of exports declined 9.2% on year to $32.6 billion during the period.  End

 

Reported by J. Navya Sruthi

Edited by Subhojit Sarkar

 

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