Read more about India s fuel demand plunges in May amid Covid-19 lockdowns, show data on Business Standard. Daily petrol sales in May fell by about 19% from April while diesel consumption, which is linked to industrial activity and accounts for over two-fifths of India s fuel demand, fell by 19.9%
Africa s share in India s oil imports hits 7-month high: Report
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Africa s share in India s oil imports hits 7-month high: Report
Reuters / Updated: Jun 1, 2021, 17:02 IST
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The share of African oil in India s crude imports rose to 16.3% in April. (Representative image)
NEW DELHI: Africa s share in India s oil imports surged to a seven-month high in April as refiners boosted purchases from small regional players such as Ghana and Congo on better economics and less competition from China, data obtained from sources showed.
The share of African oil in India s crude imports rose to 16.3% in April, the data showed.
Overall, India s oil imports in April declined 3.7% from the previous month as state-run Hindustan Petroleum Corp did not receive oil for its Mumbai refinery, which was fully shut for revamp.
State-run oil refiners own about 90 per cent of the country s retail fuel outlets
Indian state refiners daily petrol and diesel sales declined by about a fifth in May from a month earlier as lockdowns to curb the second deadly wave of COVID-19 hit industrial activities and consumption, preliminary data showed on Tuesday. Daily petrol sales in May fell by about 19 per cent from April while diesel consumption, which is linked to industrial activity and accounts for over two-fifths of the country s fuel demand, fell by 19.9 per cent, data compiled by state refiners showed.
The country s factory activity growth slowed significantly in May as a rise in coronavirus cases whacked new orders and output, the Nikkei Manufacturing Purchasing Managers Index compiled by IHS Markit showed on Tuesday.
India s fuel demand plunges in May on COVID-19 lockdowns hydrocarbonprocessing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hydrocarbonprocessing.com Daily Mail and Mail on Sunday newspapers.
India’s oil industry struggles to predict demand recovery in pandemic
Indian energy demand is taking a big hit as Covid-19 runs rampant across the country. But uncertainty around when the virus wave will subside and the lack of a unified government response has left the oil industry in the dark as to how quickly consumption might pick up again.
The demand destruction over the last couple of months has been less severe than last year, when the government imposed the world’s biggest national lockdown. However, the lack of a coordinated effort to shut down activity to halt the virus’s spread will likely lead to a longer, although less pronounced, economic slump.