You are here: Home » Economy & Policy » News
Business Standard

India's petroleum self-sufficiency at its lowest since 2011

For the month of April, this percentage fell further to 16.6%

Amritha Pillay  |  Mumbai 

petrol, diesel, fuel
Photo: Shutterstock

India’s self-sufficiency fell to 17.9 per cent of the total consumption in the last financial year — lowest since 2011, according to data available with Planning and Analysis Cell (PPAC).

Self-sufficiency percentage is calculated using the total production from indigenous crude and condensate and the total consumption of the country. For April, this fell further to 16.6 per cent; in the same month last year, it was 17.9 per cent. 

India’s fast-growing demand for products has a major reason for this fall in self-sufficiency. 

According to the data, in the last financial year, India’s total consumption was at 194.2 million tonnes. Total production from indigenous crude and condensate was 34.8 million tonnes. 

Since 2011-12, when consumed 148 million tonnes of oil, consumption has grown pretty fast. Indigenous production, however, has fallen. In 2011-12, it was 35.6 million tonnes. 

The report said, “Total crude processed in April 2017 was 20 million tonne, a marginal decrease of 0.8 per cent over April 2016. There was a decrease of 4.5 per cent in indigenous crude processed over April 2016.” 

Consumption of products — LPG, naptha, petrol, diesel, aviation turbine fuel, and pet coke — continued to have a healthy growth at 3.3 per cent in April 2017.

The consumption growth rate was 10.3 per cent in April 2016. Lower growth rates could also be attributed to a high base effect.

For 2016-2017, the country’s total gross import, inclusive of crude and petroleum, and lubricants, was at $80.8 billion. 

expects the import bill of crude alone to increase by 26 per cent from $70 billion in 2016·17 to $88 billion in 2017·18 considering the Indian basket crude price of $55/bbl and $65/bbl for the balance part of the financial year.