India’s oil imports rose to 4-month high in August- trade

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India’s oil imports rose to a four-month high of about 4.2 million barrels per day in August, recovering from the near 1-year low hit in July, tanker data from trade sources showed, as some refiners plan to boost runs in anticipation of pent-up demand around the festival season.

Oil imports last month rose about 23% from July and about 6.2% from the same month last
year, the data showed.

Indian refiners mostly buy oil about two months ahead of processing.

The sources declined to be identified as they are not authorised to speak to the media.

The following table shows India’s imports by country. The imports include condensate.
Volumes are in ‘000 bpd.

Region/Country  Aug 2021    July 2021  %Chg     Aug 2020  %Chg    Jan-Aug   Jan-Aug    %Chg
                                        mth/mth            yr/yr   2021      2020      yr/yr
 Latin America                                                                              
 Brazil              32.8          0.0       --      35.0    -6.3      75.9     56.7    33.9
 Colombia            69.7        104.3    -33.1      34.9    99.9      70.6     39.3    79.9
 Ecuador             72.3          0.0       --      34.2   111.8      18.0     20.5   -12.1
 Mexico             205.8         34.7    492.9     139.3    47.7     146.8    177.8   -17.5
 Venezuela            0.0          0.0       --     140.9  -100.0       0.0    210.3  -100.0
 Guyana              33.8          0.0       --       0.0      --       8.4      0.0      --
 TOTAL              414.4        139.0    198.1     384.3     7.8     319.7    504.6   -36.6
                                                                                            
 Asia                                                                                       
 Brunei              19.0         21.7    -12.5      23.3   -18.5      20.6     19.2     7.2
 Malaysia             0.0         21.4   -100.0      37.8  -100.0      30.3     44.9   -32.7
 Indonesia            0.0         18.5   -100.0       0.0      --      15.4      0.0      --
 Australia            0.0          0.0       --       0.0      --       2.3      0.0      --
 TOTAL               19.0         61.6    -69.1      61.2   -68.9      68.5     64.1     6.9
                                                                                            
 Middle East                                                                                
 Neutral Zone        70.8         19.6    260.7      55.4    27.7      51.1     11.5   344.9
 Oman               108.9         78.2     39.2      47.9   127.4     109.8     28.9   279.9
 Iraq               928.7        938.5     -1.1     866.6     7.2    1021.8    953.1     7.2
 Qatar               46.8         32.1     45.7      65.8   -28.9      30.4     82.4   -63.1
 Kuwait             312.8        174.7     79.0     165.1    89.4     227.0    179.9    26.1
 S. Arabia          656.5        656.7      0.0     649.8     1.0     603.9    727.3   -17.0
 U.A.E.             403.6        306.5     31.7     616.4   -34.5     427.0    480.9   -11.2
 Dubai               64.0          0.0       --       0.0      --      14.3      4.1   250.6
 TOTAL             2592.1       2206.4     17.5    2467.1     5.1    2485.3   2468.1     0.7
                                                                                            
 Europe                                                                                     
 North sea            0.0          0.0       --       0.0      --      46.3      0.0      --
 TOTAL                0.0          0.0       --       0.0      --      46.3      0.0      --
                                                                                            
 C.I.S.                                                                                     
 Azerbaijan          65.3          0.0       --      32.6   100.3      24.8     38.8   -36.0
 Kazakhstan          61.9         62.5     -1.0      62.2    -0.5      83.0    118.0   -29.6
 Russia              32.9          0.0       --       0.0      --      35.9     39.1    -8.3
 TOTAL              160.1         62.5    156.3      94.8    68.9     143.8    195.9   -26.6
                                                                                            
 Africa                                                                                     
 Nigeria            267.4        363.7    -26.5     386.0   -30.7     344.0    278.3    23.6
 Angola              58.1         64.4     -9.7     124.8   -53.4      86.3     81.0     6.6
 Ivory coast          0.0          0.0       --       0.0      --       4.3      0.0      --
 Cameroon             0.0          0.0       --       0.0      --      12.1      3.8   214.1
 Congo               62.5         30.7    103.3      30.6   104.1      15.6     19.3   -18.8
 Chad                 0.0          0.0       --      32.7  -100.0       0.0     12.1  -100.0
 Egypt               91.4         19.1    378.5      31.3   191.9      55.3     53.9     2.6
 Gabon               30.7         91.0    -66.3       0.0      --      31.1      3.9   703.0
 Ghana               31.1          0.0       --      31.1    -0.1      11.7      4.0   196.5
 Eq Guinea            0.0          0.0       --      21.2  -100.0      14.7     14.8    -0.9
 Algeria             31.3          0.0       --      30.2     3.6      11.9     26.2   -54.4
 Libya               19.7          0.0       --       0.0      --      14.9      0.0      --
 TOTAL              592.2        568.9      4.1     688.0   -13.9     611.4    497.3    22.9
                                                                                            
 CANADA               0.0        213.1   -100.0      17.2  -100.0     116.8     29.0   303.1
 USA                419.1        159.6    162.6     239.7    74.8     336.5    227.4    48.0
 TOTAL ALL         4197.0       3411.1     23.0    3952.3     6.2    4128.3   3986.4     3.6

NOTE: The total may not tally as numbers in tonnes have been rounded after converting them into barrels per day using a conversion factor of 7.3 barrels per tonne divided by the number of days.

Numbers for previous months have been revised.

Data also includes some crude parcels that arrived in August but discharged in September. It also includes some parcels that arrived in July and were discharged in August.

Source: Reuters 

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