Import Bill
India's crude oil import bill for Apr-Sept rises 12% on year to $71.3 bln
This story was originally published at 13:49 IST on 16 October 2024
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MUMBAI – India's crude oil import bill for the first six months of 2024-25 (Apr-Mar) rose 12% on year to $71.3 billion, the Ministry of Petroleum and Natural Gas said in a monthly report. In volume terms, the country's crude oil imports were at 120.5 million tonnes in Apr-Sept, compared with 115.9 million tonnes in the year-ago period, it said.
Though India imported more crude oil in volume terms in September, the import bill declined nearly 3% on year to $10.6 billion due to a fall in crude oil prices. Imports in September rose 6.2% on year to 18.6 million tonnes. India is the third-largest importer of crude oil in the world, after the US and China.
Domestic crude oil production in Apr-Sept fell 2% on year to 14.4 million tonnes, while consumption of petroleum products rose 3% from a year ago to 117.7 million tonnes, the data showed. During the same period, the output of petroleum products rose 2.4% on year to 139.9 million tonnes.
Imports of gross petroleum products, including crude oil and petroleum products, rose to 146.3 million tonnes in Apr-Sept from 139.2 million tonnes in the corresponding period last year. The value of gross imports rose 12% to $83.4 billion, the data showed.
India's exports of petroleum products rose slightly on year to 31 million tonnes during Apr-Sept, while the value of these exports fell to $22 billion from $23.6 billion in the year-ago period. The value of liquefied natural gas imports increased 18.5% on year to $7.7 billion in Apr-Sept, the data showed. End
US$1 = INR 84.06
Reported by Ashutosh Pati
Edited by Avishek Dutta
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