Crude Imports
India's crude oil import bill rises 3% on yr to $137.0 bln in FY25
This story was originally published at 12:53 IST on 21 April 2025
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MUMBAI – India's crude oil import bill in 2024-25 (Apr-Mar) rose 3% on year to $137.0 billion, the Ministry of Petroleum and Natural Gas said in a report. In volume terms, the country's crude oil imports were 242.4 million tonnes in Apr-Mar, up 3.5% from the corresponding period a year ago, the report said.
The country's crude oil import bill was steady on year in March at $12.1 billion, the report said. Crude oil imports in volume terms jumped up 6.3% on year to 22.1 million tonnes in March. 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-Mar rose to 88.2% from 87.8% in the corresponding period a year ago. Domestic crude oil production fell 2.4% on year to 28.7 million tonnes in Apr-Mar while consumption of petroleum products rose 2.1% on year to 239.2 million tonnes, the data showed. The output of petroleum products in Apr-Mar rose 2.9% on year to 284.1 million tonnes.
In Apr-Mar, gross total petroleum imports, including crude oil and petroleum products, rose 3.7% on year to 293.5 million tonnes. The value of gross total petroleum imports rose 3% on year to $160.9 billion, the data showed. India's exports of petroleum products rose 3.4% on year to 64.7 million tonnes during Apr-Mar. However, the value of exports declined 7.1% on year to $44.3 billion during the period. End
US$1 = INR 85.15
Reported by Taniva Singha Roy
Edited by Deepshikha Bhardwaj
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