Crude Data
India's crude import bill up 5% on year at $91.7 bln in Apr-Nov, down 13% in Nov
This story was originally published at 12:11 IST on 16 December 2024
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NEW DELHI – India's crude oil import bill in the first eight months of 2024-25 (Apr-Mar) rose 5% on year to $91.7 billion, the Ministry of Petroleum and Natural Gas said in a report. In volume terms, the country's crude oil imports were 159.2 million tonnes in Apr-Nov, up 3.4% from the corresponding period last year, the report said.
Though India imported a higher volume of crude oil in November, the import bill declined nearly 13% on year to $10 billion due to a fall in crude oil prices. Crude imports in volume terms rose 2.7% on year to 19.1 million tonnes in November. 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-Nov rose to 88.1%, up from 87.6% during the same period last year amid rising demand and falling domestic production. Domestic crude oil production fell 2.5% on year to 19.1 million tonnes in Apr-Nov, while consumption of petroleum products rose 3.3% from a year ago to 157.5 million tonnes, the data showed. The output of petroleum products in Apr-Nov rose 2.8% on year to 186.4 million tonnes.
During Apr-Nov, imports of gross petroleum products, including crude oil and petroleum products, rose 4% on year to 193.2 million tonnes. The value of gross imports rose 5.3% to $107.9 billion, the data showed.
India's exports of petroleum products rose 2.7% on year to 42 million tonnes during Apr-Nov. However, the value of exports fell 1.3% on year to $31.2 billion during the period. The value of liquefied natural gas imports increased 15% on year to $10 billion in Apr-Nov, the data showed. End
US$1 = INR 84.82
Reported by Afra Abubacker
Edited by Tanima Banerjee
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