Crude Report
India's crude oil import bill rises 17% on year to $49 bln in Apr-Jul
This story was originally published at 20:53 IST on 16 August 2024
Register to read our real-time news.Informist, Friday, Aug 16, 2024
NEW DELHI – India's crude oil import bill rose 17% on year to $49.0 bln in the first four months of the current financial year that started April, the petroleum and natural gas ministry said in its monthly report. In volume terms, the country's crude oil imports were at 81.6 mln tn in Apr-Jul compared with 79.7 mln tn in the year-ago period, it said.
Though India imported less crude oil in July in volume terms, the import bill rose nearly 10% on year to $11.4 bln due to a rise in crude oil prices. Imports in July fell to 19.4 mln tn from 19.5 mln tn a year ago, the data showed. India is the third-largest crude oil importer in the world, behind the US and China.
Domestic crude oil production in Apr-Jul remained largely unchanged from a year ago at 9.7 mln tn, while consumption of petroleum products rose 5% on year to 80.9 mln tn, the data showed. The output of petroleum products rose nearly 2.5% on year to 94.5 mln tn during the same period.
Imports of gross petroleum products, including crude oil and petroleum products, rose 98.4 mln tn in Apr-Jul compared with 94.6 mln tn a year ago. The value of gross imports rose 17% to $56.9 bln, the data showed.
India's export of petroleum products rose slightly on year to 20.1 mln tn during Apr-Jul, while the value of exports rose $14.7 bln compared with $14.4 bln a year ago. The value of imports of liquefied natural gas also increased to $4.6 bln in Apr-Jul from $4.3 bln in the same period last year. In terms of volume, imports increased to 11,423 bcm during Apr-Jul against 10,103 bcm a year ago, the data showed. End
US$1 = 83.94 rupees
Reported by Sayantan Sarkar
Edited by Deepshikha Bhardwaj
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2024. All rights reserved.
To read more please subscribe
Share this Story:
