Crude oil volumes processed by Indian refiners rose to 23.4 million metric tonnes (MMT) in March, information launched by the Petroleum Planning and Evaluation Cell (PPAC) on Thursday confirmed. Processed volumes rose by 1.6 per cent in comparison with 23 MMT processed in March 2023. On a sequential foundation, nonetheless, volumes rose by 11.9 per cent from February’s 20.9 MMT.
Out of the full quantity processed in March, government-owned oil public sector undertakings (PSUs) and joint ventures accounted for 16.1 MMT, whereas non-public refiners processed 7.3 MMT of crude oil.
Home crude manufacturing exhibited regular ranges, at 2.5 MMT within the newest month. The manufacturing marked a sequential rise of 16.2 per cent from the two.15 MMT registered in February. Out of the two.5 MMT produced, state-owned Oil and Pure Gasoline Company (ONGC) contributed 1.6 MMT, adopted by Oil India Restricted (OIL) at 0.3 MMT.
In the meantime, crude imports in March decreased by 4.4 per cent to $20 billion, down from $20.9 billion in March 2023 owing to greater international costs. On a sequential foundation, imports fell by 16.8 per cent.
In line with estimates by London-based commodity information analytics supplier Vortexa, which makes use of ship actions to gauge imports, Russia remained the single-largest provider of crude oil for the 18th consecutive month as of March. At 1.36 million barrels of crude oil per day, imports from Russia rose 7 per cent month-on-month in March, in comparison with February.
Gross manufacturing of pure gasoline for the month of October was 3,138 million metric normal cubic meters (MMSCM), which was greater by 6.2 per cent in contrast with the corresponding month of the earlier yr. The cumulative gross manufacturing of pure gasoline was 36.438 MMSCM for 2023-24. This was greater by 5.8 per cent in contrast with the earlier yr.
The distinction between home gasoline manufacturing and imports widened to 2,456 MMSCM in March.
First Printed: Apr 25 2024 | 7:57 PM IST
