India's crude import bill up 2.9% on yr at $124.7 bln Apr-Feb, up 2.9% Feb
This story was originally published at 13:50 IST on 18 March 2025
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MUMBAI – India's crude oil import bill for the first 11 months of 2024-25 (Apr-Mar) rose 2.9% on year to $124.7 billion, the Ministry of Petroleum and Natural Gas said in a report. In volume terms, the country's crude oil imports were 219.9 million tonnes in Apr-Feb, up 3.0% from the corresponding period a year ago, the report said.
The country's crude oil import bill increased 2.9% on year in February to $10.6 billion, the report said. Crude oil imports in volume terms jumped up 5% on year to 19.1 million tonnes in February. India is the world's third-largest importer of crude oil, after China and the US.
The country's dependency on crude oil imports during Apr-Feb rose to 88.2% from 87.7% in the corresponding period a year ago. Domestic crude oil production fell 2.6% on year to 26.2 million tonnes in Apr-Feb while consumption of petroleum products rose 2.6% on year to 218.3 million tonnes, the data showed. The output of petroleum products in Apr-Feb rose 3.1% on year to 259.0 million tonnes.
In Apr-Feb, gross total petroleum imports, including crude oil and petroleum products, rose 3.5% on year to 266.7 million tonnes. The value of gross total petroleum imports rose 3% on year to $146.6 billion, the data showed. India's exports of petroleum products rose 3.7% on year to 59.0 million tonnes during Apr-Feb. However, the value of exports declined 7% on year to $40.4 billion during the period. End
US$1 = INR 86.66
Reported by Taniva Singha Roy
Edited by Subhojit Sarkar
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