India's crude oil imports soar 7% YoY in April, net oil & gas import bill hits $12.3 billion-mark: PPAC
6 months, 4 weeks ago

India's crude oil imports soar 7% YoY in April, net oil & gas import bill hits $12.3 billion-mark: PPAC

Live Mint  

India's crude oil imports increased by seven per cent year-on-year in April 2024 and the net import bill for oil and gas hit $12.3 billion, compared to $10.1 billion in the corresponding period last year. India's domestic crude oil production stood at 2.4 million metric tonnes in April 2024 - registering a growth of 1.6 per cent compared to the year-ago period. {{^adFree}} {{/adFree}} India's total consumption of crude oil or petroleum products rose 0.8 per cent in April to 21.6 MMT. Against this consumption, the production of petroleum products of the world's third largest oil importing and consuming nation was 23.4 MMT during April 2024 which is 3.9 per cent higher than April 2023.

India Oil Gas Consumption 2024 Cent Crude Import Crude Oil Compared Mmt Ppac Petroleum Products Mmscm  oil  yoy  crude  petroleum  imports  2024  gas  hits  mmt  soar  compared  yearago  cent  net  ppac  import  indias  consumption

History of this topic

Oil prices up in thin pre-Christmas trade
1 hour, 20 minutes ago

Oil prices up in thin pre-Christmas trade

Live Mint  

By Katya Golubkova TOKYO, Dec 24 - Oil prices were up on Tuesday in thin trade ahead of the Christmas Day holiday, with prices supported by U.S. economic data and rising oil demand in India, the world's third-largest oil importer. In the shorter term, traders are looking for indications of U.S. demand from the crude oil and fuel stockpiles data …

India’s imports rises to 27%, touches to record high of almost $70 billion
1 week ago

India’s imports rises to 27%, touches to record high of almost $70 billion

The Hindu  

India’s merchandise exports fell 4.83% to $32.11 billion in November while the import bill jumped 27% to a record high of almost $70 billion, as per data released by the Commerce Ministry. This is the third time in four months that India’s import bill has hit a record high, but November’s tally surpasses the last two occasions by a wide …

India’s crude oil imports from Russia drop 55% in November, lowest since June 2022
1 week, 1 day ago

India’s crude oil imports from Russia drop 55% in November, lowest since June 2022

Live Mint  

India's import of Russian crude dropped to its lowest level since June 2022 in November this year, reported the news agency PTI on Sunday, December 15, citing a Centre for Research on Energy and Clean Air report. “India's imports of Russian crude oil dropped by a massive 55 per cent in November - the lowest figure since June 2022,” the …

Fuel Prices In Delhi, October 16: Remain Stable With Petrol At Rs 94.72 & Diesel Priced At Rs 87.62
2 months, 1 week ago

Fuel Prices In Delhi, October 16: Remain Stable With Petrol At Rs 94.72 & Diesel Priced At Rs 87.62

ABP News  

As of today, the fuel prices in Delhi remain relatively stable, with minor fluctuations due to global crude oil prices and other factors like supply chain dynamics. Fuel prices in India are revised daily based on the 15-day average of global oil prices, which is a dynamic pricing model. Despite the global fluctuations in oil supply and demand, especially due …

India’s petroleum exports plunge in first five months of FY25 on lower demand, supply disruption
2 months, 4 weeks ago

India’s petroleum exports plunge in first five months of FY25 on lower demand, supply disruption

Live Mint  

New Delhi: India's petroleum exports saw a steep decline during the first five months of fiscal year 2025 due to lower demand from key markets and disruptions along the supply route, especially in the Red Sea region. "The drop in India's petroleum exports in the last three months was mostly due to the Red Sea issue, which led to higher …

India’s core sector growth increases by 6.1 per cent in July 2024
3 months, 3 weeks ago

India’s core sector growth increases by 6.1 per cent in July 2024

India TV News  

India’s core sector, comprising industries such as coal, electricity, steel, and cement, posted a 6.1 per cent growth in July after having slowed to 4 per cent in June, according to data released by the Commerce Ministry today. Its cumulative index increased by 1.6 per cent during April to July, 2024-25 over corresponding period of the previous year. Its cumulative …

India plans to raise vegetable oils import taxes, government sources say
3 months, 3 weeks ago

India plans to raise vegetable oils import taxes, government sources say

Hindustan Times  

By Rajendra Jadhav and Mayank Bhardwaj India plans to raise vegetable oils import taxes, government sources say MUMBAI -India is considering an increase in import taxes on vegetable oils to help protect farmers reeling from lower oilseed prices, two government sources said on Wednesday. Increasing import taxes is one of the options," said a government source, who asked not to …

India plans to raise vegetable oils import taxes, government sources say
3 months, 3 weeks ago

India plans to raise vegetable oils import taxes, government sources say

Hindustan Times  

By Rajendra Jadhav and Mayank Bhardwaj India plans to raise vegetable oils import taxes, government sources say MUMBAI, - India is considering an increase in import taxes on vegetable oils to help protect farmers reeling from lower oilseed prices, two government sources said on Wednesday. Increasing import taxes is one of the options," said a government source, who asked not …

India’s Trade Deficit Widens to $23.5B in July
4 months, 1 week ago

India’s Trade Deficit Widens to $23.5B in July

Deccan Chronicle  

Chennai: India's trade deficit widened to $23.50 billion in July as exports dipped 1.4 per cent and imports grew 7.5 per cent. However, combined exports of merchandise and services registered a growth of 2.8 per cent and the ministry expects this year’s combined exports to be higher than last year’s. Merchandise exports in July this year dipped by 1.4 per …

India's July edible oil imports to surge to record on robust palm buying, sources say
4 months, 4 weeks ago

India's July edible oil imports to surge to record on robust palm buying, sources say

Hindustan Times  

By Rajendra Jadhav India's July edible oil imports to surge to record on robust palm buying, sources say MUMBAI, - India bought a record amount of edible oils for July delivery, as refiners increased palm oil and soyoil purchases due to lucrative prices and ahead of an anticipated hike in import duties, industry and government sources told Reuters. Edible oil …

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data
5 months, 1 week ago

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data

India TV News  

The government of India on Monday released data on the exports by the nation in the month of June. According to the data, India's merchandise export in June increased by 2.56 per cent to $35.32 billion compared to $34.32 billion in June last year. In May, the country's merchandise exports increased by 9.1 per cent and reached USD 38.13 billion, …

India saved USD 13 billion by importing discounted Russian crude
7 months, 3 weeks ago

India saved USD 13 billion by importing discounted Russian crude

New Indian Express  

NEW DELHI: India has saved around $13 billion by importing discounted crude oil from Russia in the past two years, according to a study by ICRA, the rating agency. According to energy cargo tracker Vortexa, India received 1.36 million barrels of crude oil per day from Russia in March 2024, compared to 1.27 million barrels per day in February 2024. …

India's crude oil consumption up 4.6% in FY24, output rises marginally at 0.6%, imports steady: PPAC
8 months ago

India's crude oil consumption up 4.6% in FY24, output rises marginally at 0.6%, imports steady: PPAC

Live Mint  

India's total consumption of crude oil or petroleum products rose 4.6 pent in fiscal 2023-24 to 233.3 million metric tonne, while domestic production of crude oil rose marginally at 0.6 per cent. But the world's third largest oil importing and consuming nation paid $132.4 billion for the imports in FY24 as against $157.5 billion import bill in 2022-23, so crude …

India's crude oil import bill drops 16% in FY24, import dependence soars to 87%
8 months ago

India's crude oil import bill drops 16% in FY24, import dependence soars to 87%

Live Mint  

India's crude oil import dropped 16 per cent in the fiscal year ended March 31 as lower international rates but the dependency on overseas suppliers rose to a new high, official data showed. {{^adFree}} {{/adFree}} But it paid USD 132.4 billion for the imports in FY24 as against USD 157.5 billion import bill in 2022-23, oil ministry's Petroleum Planning and …

India's Petrol Consumption Rises 7% Amid Summer Season, Diesel Demand Declines
8 months, 1 week ago

India's Petrol Consumption Rises 7% Amid Summer Season, Diesel Demand Declines

Deccan Chronicle  

New Delhi: With the onset of summer season, fuel demand is likely to go up as India’s petrol consumption surged 7 per cent in the first half of April, but diesel sales were down by 9.5 per cent. Diesel demand too was down 2.7 per cent month-on-month when compared to 3.22 million tonnes in the first half of March,” the …

Gas price for Reliance trimmed to $9.87; rate for gas that feeds CNG, PNG supplies still at $6.5
8 months, 3 weeks ago

Gas price for Reliance trimmed to $9.87; rate for gas that feeds CNG, PNG supplies still at $6.5

The Hindu  

The government on March 31 cut the price of natural gas produced from difficult areas like deep sea KG-D6 block of Reliance Industries, marginally to $9.87 per million British thermal unit in line with softening of benchmark international gas prices, an official notification said. For the six-month period starting April 1, the price of gas from deepsea and high-pressure, high-temperature …

India's crude oil output rises 7.9% to 2.3 MMT in February, imports decline 6.6% YoY: PPAC
9 months ago

India's crude oil output rises 7.9% to 2.3 MMT in February, imports decline 6.6% YoY: PPAC

Live Mint  

India produced a total of 2.3 million metric tonnes of crude oil in February 2024 - registering a growth of 7.9 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. Crude oil imports decreased by 6.6 per cent and increased by 0.4 per cent during February 2-24 and April-February 2024 respectively, compared to the corresponding …

India's crude oil output up 0.7% to 2.5 MMT in January, imports rise 5.7% YoY: PPAC
10 months ago

India's crude oil output up 0.7% to 2.5 MMT in January, imports rise 5.7% YoY: PPAC

Live Mint  

India produced a total of 2.5 million metric tonnes of crude oil in January 2024 - registering a growth of 0.7 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. Crude oil imports increased by 5.7 per cent and 0.9 per cent during January 2024 and April-January 2023-24 respectively, compared to the corresponding period of …

Petroleum exports drop sharply as West tightens squeeze on Russia
10 months ago

Petroleum exports drop sharply as West tightens squeeze on Russia

Live Mint  

NEW DELHI: Earnings from petroleum shipments fell steeply in April-January FY24 due to the global economic slowdown, a rise in domestic consumption, and shrinking discounts on Russian oil. According to data from the government’s Niryat portal, earnings from exports of chemicals and petroleum products stood at $67.11 billion in the April-January FY24 period, down 11.29% from $75.65 billion in the …

India oil product demand up 8.2% in January, says report
10 months, 1 week ago

India oil product demand up 8.2% in January, says report

Live Mint  

New Delhi: India's demand for oil products saw a significant increase of 398,000 barrels per day, or 8.2%, year-on-year in January, according to a report by S&P Global Commodity Insights. LPG and gasoline demand saw the highest growth in January, driven by increased heating needs during the winter and a rise in mobility following year-end holidays, respectively. In January, jet …

India’s petrochemical exports to face tough global competition: IEA official
10 months, 2 weeks ago

India’s petrochemical exports to face tough global competition: IEA official

Live Mint  

As India plans to boost its oil refining and petrochemicals capacity, its petrochemical exports are expected to face tough competition globally with increasing Chinese capacity already creating pressure in the global markets, said Toril Bosoni, head of oil industry and markets division, International Energy Agency. In its report, the IEA said that India's oil demand will reach 1.2 million barrels …

India's gas demand to rise 6% in 2024: International Energy Association
10 months, 3 weeks ago

India's gas demand to rise 6% in 2024: International Energy Association

India TV News  

India's natural gas demand is expected to rise by 6 percent in 2024 with a rise in consumption in fertiliser units, power generation and industrial sectors, according to the International Energy Agency. Following the 7 percent year-on-year decline observed in 2022, India's primary gas supply rose by 5 per cent in 2023, with growth primarily driven by the petrochemical, power …

India's crude oil output down 1.03% to 2.5 MMT in December, imports rise 1.1% YoY: PPAC
11 months ago

India's crude oil output down 1.03% to 2.5 MMT in December, imports rise 1.1% YoY: PPAC

Live Mint  

Crude oil imports increased by 1.1 per cent and 0.4 per cent during December 2023 and April-December 2023 respectively, compared to the corresponding period of the previous year. The cumulative natural gas consumption for the current financial year till December 2023 stood at 49,540 MMSCM, which was higher by 9.4 per cent compared with the corresponding period of the previous …

India's LNG imports set for 7 to 8 per cent growth in 2024
11 months, 3 weeks ago

India's LNG imports set for 7 to 8 per cent growth in 2024

Firstpost  

India is expected to see a significant rise in liquefied natural gas imports in 2024, with estimates indicating a substantial 7-8 per cent year-on-year increase. Agarwal said, “India’s LNG imports will continue to increase, with an expected 8 per cent year-on-year growth in 2024. That should change in 2024 because of the LNG price weakness”.Regasified LNG consumption by the power …

India's crude oil output down 0.4% to 2.4 MMT in November, imports decrease 2.3% YoY: PPAC
1 year ago

India's crude oil output down 0.4% to 2.4 MMT in November, imports decrease 2.3% YoY: PPAC

Live Mint  

India produced a total of 2.4 million metric tonnes of crude oil in November 2023 - registering a de growth of 0.4 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. Crude oil imports decreased by 2.3 per cent and increased by 0.4 per cent during November 2023 and April-November 2023 respectively, compared to the …

India's crude oil output up 1.3% to 2.5 MMT in October, imports rise after four months of declines: PPAC
1 year, 1 month ago

India's crude oil output up 1.3% to 2.5 MMT in October, imports rise after four months of declines: PPAC

Live Mint  

India produced a total of 2.5 million metric tonnes of crude oil in October 2023 - registering a growth of 1.3 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. According to PPAC data, crude oil imports increased by 2.2 per cent and by 0.6 per cent during October 2023 and April-October 2023 respectively, compared …

Domestic crude oil production at 2.4 MMT in September, imports rise 6.1% YoY: PPAC
1 year, 2 months ago

Domestic crude oil production at 2.4 MMT in September, imports rise 6.1% YoY: PPAC

Live Mint  

India produced a total of 2.4 million metric tonnes of crude oil in September 2023 - registering a steady growth compared to the year-ago period, according to Petroleum Planning & Analysis Cell. {{^adFree}} {{/adFree}} Crude oil imports increased by 6.1 per cent and by 0.4 per cent during September 2023 and April-September 2023 respectively, compared to the corresponding period of …

India tells OPEC it must be sensitive to needs of oil consuming nations
1 year, 2 months ago

India tells OPEC it must be sensitive to needs of oil consuming nations

Live Mint  

New Delhi: With oil prices on the boil, union petroleum and natural gas minister Hardeep Singh Puri has asked the Organisation of the Petroleum Exporting Countries to be sensitive to the needs of oil-consuming nations and curb output cuts. In another tweet, the minister wrote, "During the pandemic, when crude oil prices crashed, the world came together to stabilize the …

Buy ships to transport energy: Govt to oil cos
1 year, 3 months ago

Buy ships to transport energy: Govt to oil cos

Live Mint  

NEW DELHI : India’s public sector oil and gas companies are looking at purchasing ships to transport oil and gas following a Union government directive aimed to ensure energy security, two people aware of the development said. The move comes at a time of rising crude prices, a price cap on Russian oil, and a bar on the use of …

India’s Aug oil demand up by 2.5%, 2023 growth revised lower to 239,000/bbl
1 year, 3 months ago

India’s Aug oil demand up by 2.5%, 2023 growth revised lower to 239,000/bbl

Live Mint  

India's oil products demand increased by 118,000 barrels per day on a month on month basis in August as below-average rainfall and uneven distribution led to strong factory activity and increased mobility, according to a report by S&P Global Commodity Insights. On a year-on-year basis, the oil demand was up by 270,000 barrels per day, or 6 per cent, over …

Crude import costs down 35%, creates room to cut fuel prices
1 year, 4 months ago

Crude import costs down 35%, creates room to cut fuel prices

Live Mint  

NEW DELHI : India’s oil import bill declined 35.3% during the first four months of FY24 due to easing crude oil prices over the past year. This fall in the import bill will likely see oil marketing companies, which operate most of the refineries in the country, increase their refining and marketing margins—and profits too —as retail fuel prices have …

ONGC Q1 net profit drops 34% on lower oil prices, output
1 year, 4 months ago

ONGC Q1 net profit drops 34% on lower oil prices, output

Hindustan Times  

The net profit of Oil and Natural Gas Corporation fell over 34 per cent in June quarter on decline in oil prices and lower output, the firm said. ONGC, India's top crude oil and natural gas producer, earned USD 76.49 for every barrel of crude oil it produced and sold from nomination fields against a net realisation of USD 108.55 …

ECONOMIC PERSPECTIVES | On oil’s slippery slope: India’s goods exports struggle to stem decline
1 year, 4 months ago

ECONOMIC PERSPECTIVES | On oil’s slippery slope: India’s goods exports struggle to stem decline

The Hindu  

Published : Jul 27, 2023 11:00 IST - 6 MINS READ At first look, the evidence is worrying. The value of the country’s goods exports in June dropped to an eight-month low of $33 billion, having fallen sharply by 22 per cent year on year. The value of the country’s oil product exports rose from $25.8 billion in the 2020-21 …

Is India's Reliance on Russian Oil Imports Reaching a Limit
1 year, 5 months ago

Is India's Reliance on Russian Oil Imports Reaching a Limit

News 18  

India’s imports of oil from Russia reached a new height as New Delhi’s daily volumes climbed to 2.2 million barrels a day in June. News18 takes a look at India’s oil trade with Russia and the future possibilities: Rapid Rise of Russian Oil India, the world’s third largest consumer of crude, bought nearly 2 million barrels per day of Russian …

India coal production rises 8.55% to record 223.36 million tonne in Q1FY24
1 year, 5 months ago

India coal production rises 8.55% to record 223.36 million tonne in Q1FY24

Live Mint  

New Delhi: India’s coal production grew 8.55% year-on-year to 223.36 million tonne during the June ended quarter of fiscal 2023-24, the ministry of coal said in a statement on Friday. “India’s coal sector achieved a remarkable milestone in the first quarter of FY 2023-24, by recording highest ever coal production at 223.36 million tonne, representing a substantial growth of 8.55% …

India’s industrial production up 4.2% in April from 1.1% in March
1 year, 6 months ago

India’s industrial production up 4.2% in April from 1.1% in March

Live Mint  

The index of industrial production in India rose 4.2 per cent on an annual basis in the month of April from 1.1 per cent in March and 6.7 per cent in April 2022, according to data released by the Ministry of Statistics and Programme Implementation on Monday. India's industrial production growth slipped to a five-month low of 1.1 per cent …

Eye on oil: on oil prices and India
1 year, 6 months ago

Eye on oil: on oil prices and India

The Hindu  

The world’s largest grouping of crude oil producers, commonly known as OPEC+, agreed on Sunday to extend ongoing production cuts into 2024 as it seeks to keep oil prices from falling amid concerns about a global economic slowdown. OPEC major and leading producer Saudi Arabia also voluntarily vowed to reduce output by an extra 1 million barrels per day in …

India's import of Russian oil scales new high in May
1 year, 6 months ago

India's import of Russian oil scales new high in May

The Hindu  

India's import of cheap Russian oil scaled another record in May, 2023 and is now more than the combined oil bought from Saudi Arabia, Iraq, UAE and the U.S., industry data showed. Organisation of the Petroleum Exporting Countries, mainly in the Middle East and Africa, made up for as much as 90% of all crude oil India imported at one …

India’s exports fall 12.7% to $34.66 billion in April
1 year, 7 months ago

India’s exports fall 12.7% to $34.66 billion in April

Live Mint  

India's exports dipped by 12.7 per cent year on year to $34.66 billion in April this year, the government data showed on Monday. India's April trade deficit stood at $15.24 billion, while overall imports were valued at $49.90 billion. India’s services exports rose $30.36 billion as compared to $24.05 billion in the year ago perriod. India’s overall exports in April …

India’s oil trade has undergone a seismic shift
1 year, 7 months ago

India’s oil trade has undergone a seismic shift

Live Mint  

From where it buys crude oil to where it sells finished petroleum products, India has seen massive changes in its oil trade since the Ukraine war began, propelling profits for Indian oil companies. Russia is now India’s largest supplier of crude oil, ahead of West Asian countries, accounting for 27% of India’s crude imports this February, up from 6% in …

India’s imports from OPEC at all-time low as demand for Russian oil goes up
1 year, 7 months ago

India’s imports from OPEC at all-time low as demand for Russian oil goes up

Live Mint  

Oil producers cartel OPEC's share in India's oil imports fell to an all-time low of 46 per cent in April as purchases of cheaper Russian oil peaked, industry data showed. Organization of the Petroleum Exporting Countries nations, mainly in the Middle East and Africa, had a 72 per cent share of all crude oil India imported in April 2022. OPEC …

India is now Europe's largest supplier of refined fuels: Kplr
1 year, 7 months ago

India is now Europe's largest supplier of refined fuels: Kplr

The Hindu  

India has become Europe's largest supplier of refined fuels this month while simultaneously buying record amounts of Russian crude, according to data from analytics firm Kpler. Europe's refined fuel imports from India are set to surge above 360,000 barrels a day, edging just ahead of those of Saudi Arabia, Kpler's data show. It also means that more competition for Europe's …

India is largest supplier of refined fuels to Europe: Report
1 year, 7 months ago

India is largest supplier of refined fuels to Europe: Report

Live Mint  

India has become Europe's largest supplier of refined fuels this month, according to data from analytics firm Kpler. Europe's refined fuel imports from India are set to surge above 360,000 barrels a day, edging just ahead of those of Saudi Arabia, according to Kpler's data. It also means that more competition for Europe's oil refiners which can't access cheap Russian …

Indian crude basket likely to reflect imports from Russia
1 year, 7 months ago

Indian crude basket likely to reflect imports from Russia

Live Mint  

New Delhi: With Russia emerging as one of the top oil suppliers to India, the Indian crude basket price is likely to factor in the cheaper Russian imports going ahead. The Indian basket of crude oil broadly represents the cost of India’s oil imports, and it has so far not accounted the oil imported from Russia at discounted prices. The …

OPEC's share of Indian oil imports down to 22-year low. Here's why
1 year, 8 months ago

OPEC's share of Indian oil imports down to 22-year low. Here's why

India Today  

OPEC's share of India's oil imports fell at the fastest pace in 2022/23 to the lowest in at least 22 years, as intake of cheaper Russian oil surged, data obtained from industry sources show, and the major producers' share could shrink further this year. OPEC's share shrank as India, which in the past rarely bought Russian oil due to high …

Goods exports grew 6% , imports 16.5% this fiscal
1 year, 8 months ago

Goods exports grew 6% , imports 16.5% this fiscal

The Hindu  

India’s goods exports declined for the second successive month in March, falling a sharp 13.9% to $38.38 billion while imports dipped 7.9% to $58.11 billion. “Despite the global headwinds, we have surpassed our 2022-23 target of $750 billion dollars to hit $770.18 billion, which is $94 billion higher than last year’s record exports,” Commerce Secretary Sunil Barthwal said, using services …

OPEC+ output cut could lead to higher oil prices and increase India’s import expense: IEA
1 year, 8 months ago

OPEC+ output cut could lead to higher oil prices and increase India’s import expense: IEA

India TV News  

The International Energy Agency called OPEC+’s move to limit oil production “risky for the global economy”, saying it could push up already high prices, resulting in greater import costs for countries like India. In response to an inquiry on the potential impact of Saudi Arabia’s reduction in oil production on countries such as India, Fatih Birol, Executive Director of the …

OPEC+ output cut may lead to higher oil prices, push up India's import bill: IEA
1 year, 8 months ago

OPEC+ output cut may lead to higher oil prices, push up India's import bill: IEA

The Hindu  

The International Energy Agency on April 11, 2023 termed the decision of OPEC+ to cut oil production as "risky for the global economy", saying it may push up already high prices, leading to higher import bills for nations like India. Global oil markets were already set to tighten in the second half of 2023, with the potential for a substantial …

India's Russian oil imports now double that of Iraq
1 year, 8 months ago

India's Russian oil imports now double that of Iraq

The Hindu  

India's imports of crude oil from Russia touched a new high of 1.64 million barrels per day in March and is now double of the purchases from Iraq — the nation's traditional top oil supplier. The purchases from Russia in March were double of 0.82 million barrels per day of oil bought from Iraq, which has been India's top oil …

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