Gulf Oil and Gas accountACCOUNT

India Oil Trade in March 2013

Source: OPEC 4/22/2013, Location: Asia

In February, India crude imports averaged 3.6 mb/d, which is 553 tb/d or 13% lower than last month, marking the lowest crude imports since August 2012. On an annual basis, the decline is equal to 21 tb/d or 0.6%. On the other hand, product imports saw an increase by 31 tb/d or 13% from a month ago to average 272 tb/d, reflecting a drop of 43 tb/d or 14% y-o-y. The monthly increase in product imports came mainly as a result of increased imports of fuel oil and LPG as both increased by 48% and 11%, respectively. February’s decrease in oil product sales from a year earlier is mainly due to power supply improvements in the country and the announced cut of subsidies.

India’s product exports declined slightly in February by 5 tb/d from the previous month to average 14 mb/d, while a year earlier, they saw a volume increase by 261 tb/d or 23%. Monthly exports of diesel, fuel oil and petrol dropped by 42%, 18% and10%, respectively, from previous month.

Consequentially, India’s net imports declined by 517 tb/d to average 2.4 mb/d, 17% lower than in January and 12% lower than in February 2012.

Oil News in India >>

China >>  10/21/2019 - Total has signed a shareholders’ agreement with Chinese state-owned Zhejiang Energy Group (ZEG), to create a joint venture company dedicated to the su...
India >>  10/17/2019 - The Abu Dhabi National Oil Company (“ADNOC”), Adani Group (“Adani”), BASF SE (“BASF”) and Borealis AG (“Borealis”) have signed a Memorandum of Underst...

Russia >>  10/17/2019 - Rosneft has set drilling data monitoring stations with artificial intelligence elements at heavy drilling rigs. It was reported by the First Vice-Pres...
Azerbaijan >>  10/4/2019 - Saipem, in consortium with Boshelf LLC and STAR GULF FZCO, has recently been awarded three new contracts by BP for the development of the Azeri-Chirag...

Russia >>  9/30/2019 - As part of its exploration campaign, Rosneft Oil Company has successfully completed the drilling of the first prospecting and appraisal well at the Vo...
Russia >>  9/26/2019 - GTT has signed a contract with SAREN B.V. (Russian joint venture of Renaissance Heavy Industries Russia and Saipem) related to detailed design and con...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


India Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.