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Informist, Monday, Sep 16, 2024

 

MUMBAI – India's crude oil import bill rose nearly 15% on year to $60.6 bln in the first five 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 101.6 mln tn in Apr-Aug, compared with 98.4 mln tn in the year-ago period, it said. 

 

Imports of crude oil rose 6.4% in August to 19.9 mln tn and the bill increased to $11.6 bln from $10.9 bln in the corresponding period last year. India is the third-largest crude oil importer in the world, behind the US and China.   

 

Domestic crude oil production in Apr-Aug was 12.1 mln tn, down nearly 2% on year, while consumption of petroleum products rose 3% on year to 99.2 mln tn, the data showed. The output of petroleum products rose nearly 2% on year to 117.2 mln tn during the same period.

 

Imports of gross petroleum products, including crude oil and petroleum products, rose 122.6 mln tn in Apr-Aug, compared with 117.7 mln tn a year ago. The value of gross imports rose nearly 15% to $70.6 bln, the data showed. 

 

India's export of petroleum products fell slightly on year to 25.2 mln tn during Apr-Aug from 25.9 mln tn, while the value of exports fell $18.1 bln compared with $19.4 bln a year ago. The value of imports of liquefied natural gas increased to $6.1 bln in Apr-Aug from $5.4 bln in the same period last year. In terms of volume, imports increased to 15,064 bcm during Apr-Aug against 12,832 bcm a year ago, the data showed.  End

 

Reported by J. Navya Sruthi

Edited by Manisha Baxla

 

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