India's Crude Oil Imports Edge Higher In December
India's crude oil imports rose in December on firm demand, data from Petroleum Planning and Analysis Cell (PPAC) showed on Monday.
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India's crude oil imports rose in December on firm demand, data from Petroleum Planning and Analysis Cell (PPAC) showed on Monday.
However, the government has estimated a growth of 2.5% in the consumption of LPG, while demand for diesel is seen rising 3%.
Indian Fuel Demand: Consumption of bitumen, used for making roads, is likely to rise by 3.4%, while naphtha demand is expected to drop by 7.4%. Demand for petcoke, a better-burning alternative to coal, could increase 4.1% to 20.1 million tonnes, while demand for liquefied petroleum gas, used as cooking fuel in the country, is estimated to grow by 2.4% to 30 million tonnes, PPAC data showed.
India's fuel consumption is expected to rise 2.7% in the next fiscal year beginning on April 1, according to data from the Petroleum Planning and Analysis Cell. Consumption of gasoline is expected to rise by 5.4% to 39.2 million tonnes, while diesel consumption is expected to increase by 2.7% to 92.4 million tonnes.
India imports more than 87% of its petroleum requirements despite being a key refining hub in Asia