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India's July petrol imports hit highest level in 8 years at 230,000 tonnes

India's imports of crude oil have stalled in recent months, with both coal and liquefied natural gas also soft

Reuters 

Cess on Petrol Diesel

India's July crude declined from a year earlier, while petrol imports climbed to their highest since at least April 2011, data from the oil ministry's Petroleum Planning and Analysis Cell (PPAC) showed on Wednesday. 

Crude into the world's third-largest consumer declined 1.2% from a year earlier to 19.34 million tonnes, but increased 14.6% from the previous month.

Petrol imports rose to 230,000 tonnes in July, the highest since PPAC data going back to 2011.  
 

Government data published earlier this month showed sales of gasoline, or petrol, were 8.8% higher from a year earlier at 2.52 million tonnes.

LNG imports, meanwhile, 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.  

First Published: Thu, August 22 2019. 10:27 IST
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