India’s July petrol imports hit highest in at least eight years
India’s July crude oil imports declined from a yr earlier, whereas petrol imports climbed to their highest since a minimum of April 2011, information from the oil ministry’s Petroleum Planning and Evaluation Cell (PPAC) confirmed on Wednesday.
Petrol imports rose to 230,000 tonnes in July, the very best since PPAC information going again to 2011.
Government data published earlier this month showed sales of gasoline, or petrol, were 8.8% higher than a year earlier at 2.52 million tonnes.
LNG imports, in the meantime, fell to their lowest since February 2018 at 850,000 tonnes.
India’s imports of crude oil have stalled in recent months, with both coal and liquefied natural gas (LNG) also soft.
This could be attributed to Indian refiners adjusting to the loss of cargoes from Iran after; the United States did not extend waivers to buyers of Iranian crude beyond the beginning of May.
Meanwhile, imports of oil products rose by about 9% from a year earlier to 2.81 million tonnes. Year-on-year exports fell 5% last month to 5.07 million tonnes, the data showed.
Exports in Naphtha fell to their lowest since October 2015 at 400,000 tonnes.