In July, maintenance of imported petroleum products fell by one year

India’s crude oil imports have plummeted in a year, according to industry sources.

Exports of raw materials fell by 12.5% ​​a month to 3.4 million barrels per month (BPD), but filters closed for maintenance units and increased demand for raw materials during the summer increased by 12.8% year-on-year. .

According to government figures released on Tuesday, India’s oil production fell to 15.02 million tons, or 3.5 million BPD.

Information from commercial sources includes some shipments that will be released in July and separate from government data.

“In July, some filter repairs restricted India’s imports,” said Isan al-Haq, a reform analyst. In April-May, low oil demand was expected to lead to higher oil and gas reserves, ”he said.

Some gas stations, including the Cheney Petroleum, Mangalore refineries, and the Petroleum and Indian Oil Corporation’s Gujarat and Matura plant, have suspended operations due to low oil demand, a government statement said on Tuesday.

Some sections were closed for repairs during the month at the Hindustan Petroleum Mumbai and Visa refineries, IOS Baruni, Haldi and Paradisp refineries and the Barat Petroleum Cochi refinery.

Latin American supplies plummeted in July as private refineries turned into cheap Canadian heavy oil.

Hack has replaced Latin American oil with heavy Canadian exports to the West Texas Middle East (WTI). Indian buyers bought more Middle East crude compared to Brent-related levels in July, according to Haq.

India’s share of total imports from the Middle East rose from 59% in June to 64.7%.

That OPEC oil’s share of India’s gross domestic product increased from 66.3% in June to 77.6%, although in April-July, in the first four months of this fiscal year, the group’s share fell to its lowest level.


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