03-Oct-2024
Key Highlights:
Were you aware? India imports a significant amount of crude oil from around the world due to its inability to meet its own needs. Furthermore, it is anticipated that India's energy demand will increase more quickly than the energy demands of all the world's major economies due to its ongoing, robust economic growth. By 2035, the nation is expected to supply twice as much primary energy as the rest of the world.
In this blog, we will discuss a variety of topics, including India's crude oil import, crude oil import in India, and the list of the top crude oil importers in India.
In the fiscal year 2023-2024 (April 2023–March 2024), India imported 232.5 million metric tonnes (MMT) of crude oil, which is similar to the 232.7 MMT imported the year before.
The primary sources of crude oil imports into India are:
The top HS codes for crude oil are listed in the following table:
|
Crude oil HS codes |
Product Description |
|
2707 |
Oils And Other Products Of The Distillation Of High-Temperature Coal Tar Similar Products In Which The Weight Of The Ar |
|
27079100 |
Creosote oils |
|
2709 |
Petroleum Oils And Oils Obtained From Bituminous Minerals, Crude |
|
2710 |
Petroleum oils and oils obtained from bituminous minerals other than crude; |
|
27101990 |
Other |
|
27101980 |
Lubricating oil |
Crude oil falls under the HS code 1515110000. Additionally, visit Exportimportdata.in to view the list of transportation costs for suppliers, India's crude oil import data, and the world's top crude oil importers. Our exclusive platform provides access to all of these important market insights.
Here is the list of the world's largest crude oil importers or crude oil imports by country:
|
Rank |
Top 10 Crude oil Importing Countries |
Crude oil Import Data (in 100 barrels per day) |
|
1 |
China |
11,325 |
|
2 |
Europe |
8,768 |
|
3 |
United States |
6,502 |
|
4 |
Other Asia Pacific |
5,794 |
|
5 |
India |
4,640 |
|
6 |
Japan |
2,521 |
|
7 |
Singapore |
849 |
|
8 |
Canada |
503 |
|
9 |
South and Central America |
416 |
|
10 |
Other CIS |
361 |
At about 13.7 million barrels per day, China was the world's top importer of oil and its byproducts in 2023. Europe followed closely behind as the second-largest importer, with 12.8 million barrels per day. Also, visit Exportimportdata.in for up-to-date information on India's imports of crude oil.
This is a list of the top crude oil importers in India, or top India's crude oil import:
It is one of the leading refiners in Asia, producing winter-specific diesel for the EU. In addition, Nayara Energy runs over 6,000 petrol stations and is the second-biggest private refinery in India.
It is a significant factor in the Indian and international oil and gas industries. Capable of producing 1.4 million barrels of crude oil per day, RIL's Jamnagar refinery stands as the largest integrated refinery globally.
Indian Oil Corporation (IOC) is a multinational oil and gas company owned by the Ministry of Petroleum and Natural Gas, Government of India. IOCL provides a wide range of refined petroleum products, such as high-speed diesel, liquefied petroleum gas, jet fuel, gasoline, bitumen, lubricants, heavy fuel oil, and grease.
Indian company Bharat Petroleum Corporation Limited produces, refines and distributes petroleum products. Its operations encompass refineries, petrol, industrial & commercial, international trade, Bharatgas, MAK Lubricants, fuel services, and proficiency testing.
With a combined capacity of 9.5 million metric tons annually in Mumbai and 8.3 million metric tons annually in Visakhapatnam, HPCL is the sole owner of two significant refineries in India.
It is the biggest government-owned producer and explorer of gas and oil in the nation, accounting for about 84 percent of natural gas production and about 70 percent of India's domestic crude oil production.
The BORL refinery currently can process 7.8 million metric tonnes of crude oil per annum (MTPA) or 156,000 barrels per day. In addition to gasoline, the refinery also produces a hydrocracker, a diesel hydrotreater, and a delayed coker.
Chennai Petroleum Corporation Limited engages in the production and distribution of lubricating oil additives as well as the refining of crude oil for use in the production of various petroleum products.
Operating in the upstream oil and gas sector, AWEL is a joint venture between the Adani Group and the Welspun Group. The company wants to be a major player in the Indian oil and gas industry and help meet the nation's energy needs.
So, these are the biggest crude oil importers in India. Originally formed by Tata Industries Ltd. to lead the group's entry into the upstream segment of the oil and gas industry, TPL is an exploration and production company focused on crude oil and natural gas.
These importers of crude oil are widely recognized for their solid global reach, dependable supply chains, and superior products. Would you like to have access to global buyers of crude oil? Get in touch with Exportimportdata.in for the most up-to-date information on India crude oil import data, crude oil import by India, and crude oil imports into India.
To locate and identify crude oil importers, go to Exportimportdata.in's data-driven dashboard. It offers a list of crude oil suppliers, buyers, and exporters. It is available through market research platforms; Exportimportdata.in is among the greatest data-driven tools for analyzing shipments around the world. We give you easy access to international trade statistics with our database of over 100 countries.
Thus, the market's growth is being driven by the increasing local demand for crude oil in India or by oil imports from India. To manage import variances, competitive pricing, and potential surplus scenarios, however, meticulous planning and professional sourcing will be required. Indian importers need to prioritise quality, keep up with industry developments, and conduct due diligence on potential crude oil suppliers to successfully navigate this dynamic market.
Finally, if you have any questions concerning India's crude oil import, crude oil suppliers, crude oil importers in India, or crude oil import data, please contact our team to set up a free live demo right away!
Crude oil importers in India from Indonesia
Crude oil importers in India from Bangladesh
Crude oil import in India from Indonesia
Crude oil import in India from Bangladesh
Crude oil import in India from United States
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Based on crude oil import data, the top 5 crude oil importers in India are Rosneft-Backed Nayara Energy, Reliance Industries (RIL), Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL).
Yes, India imports crude oil. Also, India is highly dependent on imported crude oil, with an 82.8% import dependence. Also get crude oil import by India, crude oil importers list, and HS codes.
Yes, anyone can import crude oil India. However, the traders need to obtain recent insights on crude oil import in India, crude oil import data, and importers lists.
India is the second biggest importer of crude oil in the world, after China. India is also the third largest consumer of oil in the world. Also, get India's crude oil import statistics.
The world's largest crude oil importer is China, with an import value of 11,325 (100 barrels per day).
The largest importer of crude oil to India is Iraq, with an import value of $37.1B.
Based on India crude oil import statistics, India's import dependency on crude oil is 87.7% for the 2023–24 fiscal year, which is an increase from 87.4% in the previous year.
The major crude oil importing companies in India are Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), and Reliance Industries Limited (RIL).
The top crude oil HS codes are 2707, 27079100 and 2709.
