India’s May oil imports down 11% from April

By: |
Updated: June 24, 2019 3:57:33 PM

India imported 4.3 million barrels per day (bpd) of oil in May, a decline of 11% from the previous month, according to preliminary tanker arrival data obtained from shipping and industry sources, as some refiners plan maintenance work.

India’s May oil imports down 11 per cent from April

India imported 4.3 million barrels per day (bpd) of oil in May, a decline of 11% from the previous month, according to preliminary tanker arrival data obtained from shipping and industry sources, as some refiners plan maintenance work. Iran’s share in India’s overall crude imports shrank to about 3 per cent in May from 16 per cent a year earlier as New Delhi, under pressure from tough U.S. sanctions, suspended purchase of oil from the OPEC-member from last month, the data showed. Iran, which was third-biggest oil supplier to India in May 2018, slipped to ninth last month from seventh in April, the data showed.

India received 132,000 barrels per day (bpd) of Iranian oil that was lifted in late-April, a decline of 81% from a year earlier the data showed. To make up for the loss of Iranian oil, India turned to oil from Iraq, the United States, Mexico and Saudi Arabia, among others. Iraq continued to be the top oil seller to India, supplying about 1.2 million bpd, highest in 16 months, the data showed. Saudi Arabia retained the second position, while the United States emerged as India’s third-biggest oil supplier.

The following table shows India’s imports by country. The imports include condensate. Volumes are in ‘000 bpd. Region/Coun May April %chg May %chg Jan-May Jan-May %chg try 2019 2019 mth/mth 2018 yr/yr 2019 2018 yr/yr Latam Brazil 33.5 0.0 — 96.6 -65.3 52.4 60.5 -13.4 Ecuador 0.0 70.7 -100.0 0.0 — 14.0 0.0 — Mexico 239.7 355.4 -32.5 208.2 15.2 291.2 196.3 48.3 Venezuela 205.3 382.6 -46.3 342.0 -40.0 333.6 323.6 3.1 TOTAL 478.5 808.6 -40.8 646.7 -26.0 691.2 580.5 19.1 Asia Brunei 38.1 0.0 — 35.0 8.9 34.3 22.6 51.6 Malaysia 84.2 59.4 41.8 53.3 58.0 71.8 74.6 -3.7 Indonesia 0.0 21.7 -100.0 0.0 — 4.3 0.0 — Australia 0.0 0.0 — 0.0 — 0.0 9.5 -100.0 TOTAL 122.3 81.1 50.8 88.3 38.6 110.4 106.7 3.5 Middle East Oman 84.2 35.0 140.6 32.4 160.1 44.5 131.9 -66.3 Iran 132.0 277.6 -52.4 705.2 -81.3 269.1 583.5 -53.9 Iraq 1210.0 857.0 41.2 1007.5 20.1 1030.8 1064.7 -3.2 Qatar 47.8 0.0 — 46.3 3.2 34.6 55.9 -38.0 Kuwait 170.1 236.7 -28.2 234.0 -27.3 216.4 284.2 -23.8 S. Arabia 731.0 795.5 -8.1 734.6 -0.5 781.5 766.1 2.0 U.A.E. 247.8 200.7 23.4 404.0 -38.7 307.4 264.9 16.0 Dubai 0.0 0.0 — 0.0 — 0.0 3.3 -100.0 Yemen 0.0 0.0 — 0.0 — 0.0 13.8 -100.0 TOTAL 2622.9 2402.5 9.2 3164.0 -17.1 2684.3 3168.2 -15.3 Europe North sea 0.0 0.0 — 0.0 — 8.2 3.7 123.1 TOTAL 0.0 0.0 — 0.0 — 8.2 3.7 123.1 C.I.S. Azerbaijan 95.6 33.8 182.9 66.3 44.2 64.4 38.0 69.5 Kazakhstan 31.1 65.3 -52.3 0.0 — 39.2 12.9 203.4 Russia 98.9 204.3 -51.6 32.8 201.2 67.7 20.3 233.7 TOTAL 225.7 303.4 -25.6 99.1 127.6 171.2 71.2 140.6 Africa Nigeria 208.0 431.7 -51.8 180.8 15.1 350.4 318.1 10.2 Angola 125.6 97.3 29.0 60.6 107.3 103.8 162.7 -36.2 Cameroon 0.0 0.0 — 0.0 — 4.5 6.7 -32.2 Congo 60.2 95.2 -36.7 0.0 — 37.3 3.7 916.7 Chad 0.0 32.4 -100.0 30.2 -100.0 12.9 19.0 -32.0 Egypt 49.9 37.1 34.5 51.6 -3.4 31.6 45.7 -30.8 Gabon 0.0 0.0 — 0.0 — 0.0 13.2 -100.0 Ghana 0.0 66.1 -100.0 0.0 — 32.5 6.7 387.9 Sudan 20.5 0.0 — 20.5 -0.1 20.6 17.4 17.9 Eq Guinea 0.0 32.5 -100.0 0.0 — 15.2 13.3 14.3 Algeria 95.1 126.6 -24.9 0.0 — 74.9 6.1 1124.2 Libya 0.0 32.5 -100.0 0.0 — 6.5 6.7 -4.2 TOTAL 559.3 951.5 -41.2 343.7 62.7 690.1 619.1 11.5 USA 285.4 280.1 1.9 0.0 — 192.3 25.7 648.7 TOTAL ALL 4294.1 4827.1 -11.0 4341.8 -1.1 4547.8 4575.1 -0.6

NOTE: The total may not tally as numbers in tonnes have been rounded after converting them into barrels per day using a conversion factor of 7.3 barrels per tonne divided by the number of days. Numbers for previous months have been revised. Data includes crude parcels that arrived in May but discharged in June. It also include parcels that arrived in April and were discharged in May.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

FinancialExpress_1x1_Imp_Desktop