India’s Crude Oil Imports Rose, LNG Imports Dipped in May

SEATTLE (Oil Monster): The Petroleum Planning and Analysis Cell (PPAC) has released data showing that India's imports of crude oil increased 5.9% in May of this year. Imports increased by 2.5% over the first two months of the current fiscal year.

Oil, lubricants, and petroleum products (POL) imports decreased by 6.9% and 3.9%, respectively. Fuel oil, lubricants/lube oil base stock (LOBS), and bitumen imports were the primary causes of the drop in POL product imports.

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The country processed 23.1 million metric tons (MMT) of crude oil in May this year, somewhat higher by 0.4% from May 2024. Private refiners processed 7.5 MMT, while joint venture and public sector refiners handled 15.6 MMT. Additionally, 21.3 MMT of crude processing was imported, compared to 1.8 MMT that was domestically produced. The total amount of crude oil produced in the first two months of the fiscal year 2025–2026 increased by a meager 0.1% year over year.

In May of this year, the nation produced 24.3 million metric tons of petroleum products, a 1% increase from the previous year. Of this, fractionators generated 0.3 MMT while refineries produced 24 MMT. The total production from April to May of this year decreased by 1.6% from the previous year.

This year's May LNG imports totaled 2,977 MMSCM, a 15.3% decrease from the previous year.