CRUDE OIL IMPORT BY INDIA

The data shown below are of Feb 2021. While Saudi Arabia was among the top for crude supply to India after Iraq, the list below shows that it has fallen to fourth position. India is the 3rd largest oil consumer in the world after US and China. 84% of the total requirement is imported by India.

Countries on the order of maximum supplies. Unit shown are in barrels per day.

Iraq - 8,67,500
US - 5,45,300
Nigeria - 4,72,300
Saudi Arabia - 4,45,200

Percentage oil imports in 2018
Middle East - 52.7%
Africa - 15%
US - 14%

The estimated spending on crude oil imports in 2021-22 FY was $100 billion. This was almost double the amount of the previous year.($94.3 billion spent in the first 10 months)

Refining capacity of India - 249.36 million tonnes. India has 23 refineries. Plans to grow refining capacity to 400 mtpa by 2025.

FY 2020-21 India imported 196.5 million tonnes of crude oil with a value of $62.2 billion.

(Indebted to Upsc Colourful Notes for datas and istock for image)

K V George

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