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Crude Processing at India Refiners Increased in Dec

OIL

Crude oil processing at refineries in India rose 1.8% y/y to 22.7m tons (5.37mb/d) in December according to preliminary data from Petroleum Planning and Analysis Cell via Bloomberg.

  • The volume exceeded a target of 22m tons, and is compared to 22.3m tons the previous year.
    • Indian Oil +4.8% y/y at 6.5m tons
    • Bharat Petroleum flat y/y at 3.6m tons
    • Hindustan Petroleum +3.6% y/y at 2.9m tons
    • Mangalore Refinery & Petrochemicals +6.7% y/y at 1.6m tons
    • Reliance Industries flat y/y at 5.3m tons
    • Nayara Energy flat at 1.7m tons
  • Crude oil imports rose 1% y/y to 19.8m tons while oil-product exports fell -5.3% y/y to 5.4m tons.
  • Oil product imports fell -4.9% y/y to 3.9m tons and domestic crude production was flat y/y at 2.5m tons.

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