India's Feb crude imports up 13% at 10.7 mn tonnes

India's crude oil imports jumped up 13.2 per cent in February even though domestic fuel demand dropped marginally, according to data released by the Oil Ministry.

Domestic fuel sales at 11.39 million tonnes in February were 0.2 per cent lower than 11.41 million tonnes of petroleum products consumption in the same month a year ago.

Auto fuel consumption rose as carmakers sold a record number of vehicles in February. Diesel demand soared 8.7 per cent to 4.67 million tonnes, while petrol sales rose 12.6 per cent at 1.06 million tonnes.

Jet fuel or ATF consumption was up 9.3 per cent at 379,700 tons reflecting a revival in the aviation business.

However, naphtha sales fell a massive 42 per cent to 754,500 tonnes as natural gas from Reliance Industries' eastern offshore KG-D6 field replaced the liquid fuel in power and fertilizer plants.

Demand for fuel oil, another feedstock used in factories, was also down 14.7 per cent to 849,300 tonnes for the same reason.

India imported 10.67 million tonnes of crude oil in February, up 13.2 per cent from 9.42 million tonnes a year ago.

Petroleum product imports were almost flat at 1.2 million tons but exports fell 5.3 per cent to 2.07 million tons. Diesel shipments were down 76.8 per cent at 232,100 tons.

During April-February, fuel consumption was up 3.8 per cent to 125.81 million tonnes with diesel sales rising 9.1 per cent to 51.15 million tonnes. Petrol demand was up 14.3 per cent to 11.66 million tonnes.

Naphtha sales dropped 25.3 per cent to 9.51 million tonnes.

Crude oil imports were up 20.5 per cent at 140.39 million tonnes as fuel exports soared almost 24 per cent to 41.23 million tonnes.

Product imports fell 23 per cent to 13.13 million tonnes.