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2018-12-21 14:10:00

INDIA'S OIL IMPORTS DOWN BY 11.4%

INDIA'S OIL IMPORTS DOWN BY 11.4%

PLATTSIndia imported 17 million mt (4.2 million b/d) of crude oil in November, down 11.4% year on year, the latest provisional data from the country's Petroleum Planning and Analysis Cell showed.

Crude imports were also down 19.4% from October.

Analysts said the biggest decline in nearly four years was mainly due to lower overseas purchases by refiners after US sanctions on Iran, and also due to maintenance shutdowns by some refiners.

In November, overall domestic oil products demand shrank year on year due to a decline in diesel demand amid high interest rates and a 3.4% year-on-year drop in passenger vehicle sales in October.

India's oil products demand in November fell 1.8% year on year to 17.3 million mt, or 4.5 million b/d, PPAC said.

In the first 11 months of the year, crude imports rose 5.4% year on year to 207.8 million mt, while oil product imports rose 4.4% to 31.8 million mt. Over the same period, oil product demand rose 5% year on year to 192 million mt, PPAC said.

India's infrastructure development drive has supported domestic demand for crude and oil products.

 

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Earlier:

 IRAN'S OIL FOR INDIA DOWN
2018, December, 17, 10:25:00

IRAN'S OIL FOR INDIA DOWN

REUTERS - India’s monthly oil imports from Iran plunged to their lowest in a year in November with Tehran dropping two places to become only the sixth biggest supplier after New Delhi cut purchases due to the impact of U.S. sanctions, according to ship tracking data and industry sources.

 

 2019: WORLD OIL DEMAND UP BY 1.29 MBD
2018, December, 14, 09:10:00

2019: WORLD OIL DEMAND UP BY 1.29 MBD

OPEC - In 2019, world oil demand is anticipated to rise by 1.29 mb/d. As a result, total world oil demand is anticipated to reach 100.08 mb/d. Oil demand growth is projected to originate from Other Asia, led by India, followed China, then OECD Americas. OECD countries will rise by 0.25 mb/d, while non-OECD countries will drive oil demand growth by adding an estimated 1.04 mb/d in 2019.

 

 INDIA'S OIL IMPORTS UP TO 5 MBD
2018, November, 23, 12:20:00

INDIA'S OIL IMPORTS UP TO 5 MBD

PLATTS - India's crude imports surged to 5 million b/d in October to register the highest monthly inflows in more than seven years as refiners rushed to ship in cargoes amid doubts on whether New Delhi would win a waiver on Iran.

 

 INDIA'S PIVOTAL IMPORTANCE
2018, October, 17, 10:20:00

INDIA'S PIVOTAL IMPORTANCE

OPEC - We forecast that primary energy demand, globally, is expected to increase by 33%, or 91 mboe/d, between 2015 and 2040. A massive 24% of this anticipated increase will be from India, or 22 mboe/d.

 

 INDIA NEEDS OIL
2018, October, 17, 10:15:00

INDIA NEEDS OIL

PLATTS - India will be looking to ship in more crude oil from Saudi Arabia and the United Arab Emirates to fill part of the vacuum created by reduced appetite for supplies from Iran, which is facing US sanctions, according to delegates and policy makers attending the India Energy Forum by CERAWeek.

 

 SAUDI - INDIA'S DOWNSTREAM
2018, October, 17, 10:10:00

SAUDI - INDIA'S DOWNSTREAM

MEOG - Judaimi highlighted that the closer cooperation between Saudi Aramco and Indian energy entities is reflected in the partnership with RRPCL and ADNOC on the Ratnagiri mega-refinery and petrochemicals complex in Maharashta this year. He noted that nearly $2 billion in material-service sourcing with Indian companies to date; and the opening of the Aramco Asia India office in 2017.

 

 INDIA WILL BUY IRANIAN OIL
2018, October, 8, 10:35:00

INDIA WILL BUY IRANIAN OIL

REUTERS - India will buy 9 million barrels of Iranian oil in November, two industry sources said, indicating the world’s third-biggest oil importer will continue purchasing crude from the Islamic republic despite U.S. sanctions coming into force on Nov. 4.

 

Tags: INDIA, OIL, IMPORTS

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