 "Oil, OMCs, Oil rig, Fuel, Indian Oil, Hindustan OIL, Bharat Petroleum, Petrol, Gas, LPG, Oil drilling, block, basin")
India saved over Rs 30,000 crore on its fuel import bill in the first 11 months of fiscal 2020-21 (FY21) even as it bought more petroleum products than a year ago. This was largely because of a fall in international hydrocarbon prices.
According to official data, the country imported finished petroleum products worth Rs 1.50 trillion between April 2020 and February 2021, compared to Rs 1.81 trillion during the corresponding period of 2019-2020.
It is expected that savings will only grow as the data for March is yet to be released.
While India has a robust crude oil refining and natural gas processing
