Heavy Imports
India's crude import bill up 2.7% on yr at $113.9 bln Apr-Jan, down 5.7% Jan
This story was originally published at 15:17 IST on 17 February 2025
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MUMBAI – India's crude oil import bill for the first 10 months of 2024-25 (Apr-Mar) rose 2.7% on year to $113.9 billion, the Ministry of Petroleum and Natural Gas said in a report. In volume terms, the country's crude oil imports were 200.5 million tonnes in Apr-Jan, up 2.7% from the corresponding period a year ago, the report said.
India's crude oil import bill declined 5.7% on year in January to $11.5 billion as the country imported lower volume of crude oil. Crude oil imports in volume terms fell 3.3% on year to 20.8 million tonnes in January. 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-Jan rose to 88.2% from 87.6% in the corresponding period a year ago. Domestic crude oil production fell 2% on year to 24 million tonnes in Apr-Jan, while consumption of petroleum products rose around 3.5% on year to 199.2 million tonnes, the data showed. The output of petroleum products in Apr-Jan rose 3.4% on year to 236.5 million tonnes.
During Apr-Jan, gross total petroleum imports, including crude oil and petroleum products, rose 3.7% on year to 243.6 million tonnes. The value of gross total petroleum imports rose 3.2% on year to $134.2 billion, the data showed. India's exports of petroleum products rose 3.3% on year to 53.3 million tonnes during Apr-Jan. However, the value of exports declined 6.9% on year to $36.6 billion during the period. End
US$1 = INR 86.86
Reported by Ashutosh Pati
Edited by Avishek Dutta
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