India’s import of petroleum products climbed 15.5 percent in July from last year, primarily on account of an increase in imports of liquefied petroleum gas (LPG) and petcoke.
In July, India imported 4.4 million metric tonnes (MMT) of petroleum products, compared to 3.8 MMT in the same period last year, according to oil ministry data.
India has to increase reliance on imports of LPG amid higher consumption but stagnant domestic production. The rise in LPG imports in recent months also dragged the net profit of oil marketing companies (OMCs) in the first quarter of FY25.
Meanwhile, India’s export of petroleum products declined 4.3 percent in the month amid high domestic consumption. The country’s consumption of petroleum products in July grew 7.4 percent from last year with a volume of 19.7 MMT.
Regarding ethanol blending with petrol, India achieved 15.8 percent blending in July wherein 15,493 PSU retail outlets are dispensing E20 ethanol blended petrol.
India’s crude oil imports slipped 0.7 percent in the month while the net import bill for oil and gas was $10.9 billion. The country produced 24.4 MMT of petroleum products in July, out of which share of major products include diesel which was 42.4 percent, while petrol and LPG were 15.7 percent and 4.5 percent, respectively.
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