India’s oil imports rose 6.9% in April

India’s oil imports rose 6.9% in April compared to the previous month as refiners were tempted to buy cheaper Russian oil, avoiding some European companies and countries, while boosting promised volumes under term agreements with Middle Eastern producers, sources said. Refiners shipped 4.7 million barrels (bpd) of oil per day in April, an increase of 11.6% over the previous year when fuel demand fell due to the deadly second wave of the Covid-19, data show.

The following table shows India’s imports by country. Imports include condensate. Volume ‘000 bpd.

Region / Counter April March% chg April% chg January-April January-April% chgy 2022 2022 month / month 2021 year / year 2022 2021 year / year

Latin America

Brazil 35.1 65.1 -46.1 135.9 -74.2 52.1 68.2 -23.6

Colombia 71.4 35.6 100.4 35.1 103.6 82.3 80.4 2.5

Ecuador 25.4 33.5 -24.2 0.0 – 15.0 0.0 –

Mexico 141.5 0.0 – 104.6 35.3 86.8 156.4 -44.5

Guyana 0.0 0.0 – 33.3 -100.0 0.0 8.3 -100.0

Total 273.4 134.2 103.6 308.9 -11.5 236.3 313.3 -24.6

Asia

Brunei 0.0 0.0 – 0.0 – 4.8 21.3 -77.4

Malaysia 23.2 59.3 -60.9 21.5 7.8 37.6 39.8 -5.6

Indonesia 0.0 0.0 – 0.0 – 2.5 16.9 -85.0

Australia 0.0 0.0 – 0.0 – 0.0 4.7 -100.0

Total 23.2 59.3 -60.9 21.5 7.8 44.9 82.7 -45.7