The Hindu Business Line : Crude imports dip 1.4% in October

New Delhi, Nov. 28 Crude oil imports in October saw a decline of 1.4 per cent as compared to the same month last year, while domestic petroleum product sales registered a growth of 9.9 per cent.

The reason for dip in crude oil imports was mainly due to a crude unit of private refinery Reliance Industries Ltd (RIL) being shut for maintenance.

The refiners imported nearly 9.79 million tonnes (mt) crude oil in October, down from 9.92 mt during the same month last year, according to a Petroleum Ministry data.

Crude imports by private refiners during the month were down 22.8 per cent at 2.63 mt.

October saw a marginal dip of 0.1 per cent in exports of petroleum products to 3.36 mt, as PSU refiners’ shipped out 25 per cent less products during the month.

Domestic sales

Domestic sales of petroleum products rose 9.9 per cent in October, the fastest pace in the last 11 months, to 10.69 mt. Demand was driven by transport fuels — motor spirit and HSD — as vehicle sales picked up during the month after a slowdown in September.

According to officials, passenger vehicle sales were strong in October due to the festival season. Growth in aviation fuel sales was also high at 17.7 per cent in October, he said.

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