#oil import

[seairexim]

Import of Oil in India: A 2024 Overview

India, one of the fastest-growing economies globally, is heavily reliant on imported oil to meet its energy needs. As of 2024, oil imports play a crucial role in India’s economic stability, given the country's limited domestic production and its burgeoning industrial and transportation sectors. The demand for crude oil continues to increase, making India one of the largest oil importers in the world.

In this article, we will dive into the key trends shaping import of oil in India in 2024, examine the major oil importers in India, analyze the oil importers by country, and explore the latest Indian oil imports data.

Current State of Oil Imports in India (2024)

India is the third-largest oil importer globally, accounting for around 10% of total global oil imports. This reliance is driven by India’s limited domestic oil reserves, which only meet a fraction of the country’s energy needs. The demand for oil in India continues to rise due to rapid industrialization, population growth, and expanding transportation networks.

India's oil imports are crucial to fueling its key sectors such as transportation, power generation, and manufacturing. According to the latest Indian oil imports data, the country imports approximately 85% of its total crude oil consumption. The ongoing geopolitical tensions and global supply chain disruptions in recent years have only increased India's focus on diversifying its oil sources and securing stable supply routes.

Major Oil Importers in India

In 2024, several major oil companies, refineries, and private-sector players are involved in importing oil into India. Among the top oil importers in India are:

Indian Oil Corporation Limited (IOCL) – As the largest public sector oil company in India, IOCL is a major player in the importation of crude oil, processing over 1.6 million barrels per day.

Bharat Petroleum Corporation Limited (BPCL) – A government-owned entity that plays a critical role in meeting India's energy demands through oil imports.

Hindustan Petroleum Corporation Limited (HPCL) – Another key player, HPCL, imports a significant amount of crude oil to meet the needs of its refineries and distribution network.

Reliance Industries Limited – Reliance, a major private-sector company, operates the largest refining complex in the world in Jamnagar, Gujarat, and is one of the largest private oil importers in India.

Nayara Energy – Formerly known as Essar Oil, Nayara Energy imports oil to fuel its refining and distribution operations across the country.

These companies primarily rely on crude oil imports to keep their refineries running and to meet the country’s high demand for petroleum products.

Key Oil Importers by Country

India sources its crude oil from a variety of countries, with Middle Eastern nations being the dominant suppliers. The following countries are among the leading oil importers by country to India in 2024:

Saudi Arabia – Saudi Arabia continues to be one of the largest suppliers of crude oil to India. As part of OPEC, it plays a critical role in India’s energy security by providing a steady flow of oil. In 2024, Saudi Arabia supplies over 17% of India’s total oil imports.

Iraq – Iraq remains the top oil exporter to India, contributing nearly 22% of India's total crude oil imports. Despite geopolitical instability in the region, Iraq has maintained stable oil production and export levels to meet India’s growing demand.

United Arab Emirates (UAE) – The UAE is another critical supplier for India, accounting for around 10% of the country's oil imports. The relationship between India and the UAE is strong, with several ongoing projects aimed at further deepening trade and energy ties.

United States – In recent years, the U.S. has emerged as a major oil supplier to India, with its exports of shale oil increasing. In 2024, the U.S. contributes around 8% to India’s oil imports, as India seeks to diversify its suppliers and reduce dependence on the Middle East.

Russia – With the geopolitical realignments post-Ukraine war and Western sanctions, Russia has been exporting discounted oil to countries like India. By 2024, Russian oil accounts for nearly 15% of India’s imports, making it one of the fastest-growing suppliers to the Indian market.

Other notable oil exporters to India include Kuwait, Nigeria, and Brazil. The diversification of suppliers is a crucial part of India’s energy strategy, as it reduces reliance on any single region and ensures the stability of imports.

Indian Oil Imports Data: Key Insights for 2024

Volume of Imports

As of 2024, India imports approximately 4.5 million barrels of crude oil per day. This figure represents a slight increase from previous years, reflecting India’s growing energy needs. With limited domestic production, the country has no choice but to rely heavily on imports to meet over 85% of its crude oil consumption.

Import Expenditure

India's expenditure on oil imports is expected to reach nearly $140 billion in 2024. This increase in expenditure is partly due to rising global oil prices and higher import volumes. The Indian government continues to monitor global price fluctuations and the potential impact on inflation and the country’s fiscal balance.

Strategic Petroleum Reserves

India has been expanding its strategic petroleum reserves (SPR) to safeguard against supply disruptions and price volatility. In 2024, the country has reserves equivalent to around 12 days of oil consumption. The government has also announced plans to further increase these reserves in collaboration with other key suppliers like the UAE and the U.S.

Shifts in Import Patterns

India’s oil import patterns have seen a shift in 2024, with an increasing focus on Russia, the U.S., and African nations like Nigeria and Angola. The India-Russia oil trade, in particular, has grown substantially since 2022, with Russia providing discounted crude in light of Western sanctions. This shift has allowed India to hedge against price volatility in the Middle East.

Challenges in India's Oil Import Landscape

Despite the growing diversification of suppliers, India's oil import landscape in 2024 faces several challenges:

Geopolitical Instability – Ongoing conflicts in oil-producing regions, particularly in the Middle East and Russia, continue to pose risks to India’s energy security.

Price Volatility – Fluctuations in global oil prices, driven by factors such as OPEC production cuts, inflation, and geopolitical tensions, have made it difficult for India to stabilize import costs.

Environmental Concerns – The Indian government has made a commitment to shift toward cleaner energy sources. However, the country’s heavy reliance on oil imports may slow down the transition to renewable energy, even as it works to reduce carbon emissions in the coming decades.

Conclusion

As India moves through 2024, its dependency on oil imports remains a cornerstone of its energy policy. With major oil importers in India like IOCL, Reliance, and BPCL leading the charge, the country continues to source oil from key players in the Middle East, the U.S., and Russia. The latest data on Indian oil imports reflect the country’s need to secure diversified oil supplies to ensure economic stability, despite challenges such as price volatility and geopolitical risks.

Frequently Asked Questions

1. What is the current status of oil imports in India in 2024? In 2024, India remains one of the largest oil importers globally, importing approximately 4.5 million barrels of crude oil per day. This reliance on imports accounts for about 85% of the country’s total crude oil consumption, reflecting the increasing demand driven by industrial growth and a rising population.

2. Who are the major oil importers in India? The major oil importers in India include Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), Reliance Industries Limited, and Nayara Energy. These companies play a critical role in meeting India’s oil demands through their extensive import operations.

3. Which countries are the top oil importers to India? As of 2024, the leading oil importers by country to India are Iraq, Saudi Arabia, the United Arab Emirates (UAE), the United States, and Russia. Iraq holds the largest share, contributing around 22% of India’s total crude oil imports, followed by Saudi Arabia with 17%.

4. How does Indian oil imports data reflect the country’s energy needs? The Indian oil imports data for 2024 indicate that the country is projected to spend nearly $140 billion on oil imports. This significant expenditure underscores India's reliance on external oil sources to fuel its growing economy and meet energy requirements.

5. What challenges does India face regarding its oil import strategy? India’s oil import strategy in 2024 is challenged by geopolitical instability in oil-producing regions, price volatility in global oil markets, and the need to transition to cleaner energy sources. These factors can affect the stability and cost of oil imports, impacting India’s overall energy security.

[flowersandfashion]

hot twink is tied up and penetrated

A Collection of Homoerotic Paintings of Saint Sebastian

Carlo Saraceni, c. 1610 /// Nicolas Régnier, c. 1620 /// Guido Reni, c. 1625 /// Nicolas Régnier, c. 1625 /// Louis Finson, c. 1613 /// François-Guillaume Ménageot, c. 1760 /// Guido Reni, c. 1615 /// Nicolas Régnier, c. 1620

[livemintvideos]

Russia's crude oil export to India surged to a new record in December 2022. Moscow has remained the top oil supplier of India for consecutive months. According to data from energy cargo tracker Vortexa, India imported crude oil from Russia 1 million barrels per day for the first time in December. Russia supplied 1.19 million bpd of crude oil to India in December alone. As per Vortexa report, it was the higher than 909,403 bpd of crude oil India imported from Russia in November and 935,556 bpd in October 2022. In this video, let's take a look at some of the causes that led to the increase in imports that we have seen.

[inkskinned]

as we enter the start of a semester and the dreaded Hour of Making Friends us upon us... if ur ever at a loss for what to say in one of those weird social situations where you only vaguely-know people, one of my favorite questions to ask is "what is your favorite food crime." a food crime is like the food combination that you love that other people find revolting. press them to take it further than pineapple on pizza, that's rote. food crimes is a good topic that has many benefits as it turns out all people are degenerates and also it will give you some cool ideas to try out later in the privacy of your own degenerate kitchen

the other good thing to ask is "okay but has anyone here ever been someplace haunted" bc it turns out if you ask most people directly they don't believe in ghosts, but many people are like "oh yeah i lived in a haunted house. ghosts aren't real tho"

[mathes0n]

My partner asked me to draw evil Wheatley

[jordanswitches]

thinking about kneeling on your arms to pin them above your head, putting oil on your armpits and tickling them until you make noises you didn't know you could make, wbu

[umblrspectrum]

one of these days I will make something I'm truly proud of again. something that makes me feel as great as I did on that artfight attack, but for my murder drones followers instead.

anyways here's something I spent about 7 minutes on and that i hate more and more by the second just to keep yall fed

[moeblob]

OC again gomen ... (her name is Yuma)

[gomzdrawfr]

One day I need to figure out the one drink/food that can sustain me when im extremely exhausted

Ya panda is rawdogging life by sheer will because:

1. Coffee makes me sleepy (or give me a head splitting headache no in between)

2. Tea works although not too long

3. Music also work sometimes but not consistent

[jeida-chi]

"What does my mentor do besides bring me roses?"

So I actually HATED how this portrait turned out (the oil pastels finally betrayed me 😔🥲) but aside from the eyes WHICH LOOK WRONG the color work was banging and I didn’t want it to go to waste (but still didn’t feel like spending more hours trying to save it;;;;) sooo yeah we’re going for artistic rendition idk lmaooo

thematically I think it works though hehe 🤭

Added the unaltered drawing if anyone is curious what it looked like 🙈

[seairexim]

India's Crude Oil Imports: Key Importers, Data, and Global Impact

India is the third-largest crude oil importer in the world, underscoring the nation’s reliance on foreign oil to meet its growing energy needs. As a rapidly developing economy, India requires vast amounts of energy, with crude oil playing a significant role in powering its transportation, industrial, and domestic sectors. The sheer scale of crude oil import in India places it among the top global players in energy consumption, and this dependence on imports has a substantial influence on both domestic and international markets.

This article delves into the dynamics of India crude oil imports by country, explores the crude oil importers in India, and provides a deep dive into India's crude oil import data. Understanding these facets will help provide a comprehensive picture of India’s energy landscape and its role in the global oil market.

Crude Oil Import in India: An Overview

Crude oil import in India has grown steadily over the past few decades. According to the Ministry of Petroleum and Natural Gas, India imports about 80-85% of its total crude oil needs, making it one of the most significant players in the global oil market. In recent years, geopolitical factors, fluctuating oil prices, and energy security concerns have shaped India's approach toward crude oil imports.

India's increasing urbanization and industrialization have intensified its energy demand. With renewable energy sources still in developmental phases, the need for fossil fuels remains dominant. As a result, India looks to countries across the globe to supply its crude oil needs, ranking it among the top 10 crude oil importing countries.

India's Crude Oil Imports by Country

India sources crude oil from a wide array of nations. The Middle East remains the predominant supplier, but India has diversified its oil import partners in recent years to mitigate the risks associated with over-reliance on a single region. The list show India crude oil imports by country

1. Saudi Arabia

Saudi Arabia has traditionally been one of the largest suppliers of crude oil to India. Its close proximity, established trade routes, and significant production capacity make it a reliable partner in meeting India’s energy needs.

2. Iraq

In recent years, Iraq has emerged as a key player, often overtaking Saudi Arabia as the leading supplier. With favorable pricing and high-quality crude oil, Iraq plays a crucial role in India's energy strategy.

3. United Arab Emirates (UAE)

The UAE is another major player in the Middle Eastern oil market and has strong trade relations with India. As part of the broader economic ties between the two nations, the UAE regularly supplies crude oil to Indian refineries.

4. United States

In recent years, the United States has become a significant supplier of crude oil to India. This is a result of increased oil production in the U.S. due to advancements in shale technology. India sees the U.S. as a crucial partner in diversifying its oil imports and ensuring energy security.

5. Nigeria

Nigeria is the leading African supplier of crude oil to India. The light, sweet crude oil from Nigeria is highly sought after due to its low sulfur content, which makes it easier to refine.

6. Russia

In recent years, Russia has become a more important supplier of crude oil to India. Although logistical challenges remain, India views Russia as a key player in its diversification strategy.

Top 10 Crude Oil Importing Countries

Globally, crude oil is one of the most traded commodities, and several nations rely heavily on imports to meet their energy needs. Apart from India, here are the top 10 crude oil importing countries:

United States: Despite being one of the largest oil producers, the U.S. still imports a significant amount of crude oil due to varying qualities of crude required by its refineries.

China: As the world’s largest oil importer, China sources crude oil from a wide range of countries, particularly in the Middle East and Africa.

India: India is the third-largest crude oil importer, sourcing oil from the Middle East, the U.S., and Africa.

Japan: Lacking domestic oil reserves, Japan relies heavily on imports to meet its energy demands.

South Korea: South Korea is another major oil importer, depending largely on Middle Eastern suppliers.

Germany: Germany imports crude oil to fuel its industries, and its primary suppliers include Russia and Norway.

Netherlands: A major hub for oil refining and trade in Europe, the Netherlands imports a significant amount of crude oil.

Italy: Italy relies on imports, primarily from North Africa and the Middle East, to meet its energy needs.

Spain: Spain imports crude oil from regions such as North Africa and Latin America to power its economy.

France: France imports crude oil mainly from the Middle East, Africa, and Russia.

Biggest Crude Oil Importers in India

India’s crude oil market is characterized by several key importers that play a vital role in managing the nation’s energy supplies. The biggest crude oil importers include public sector undertakings such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL). These companies manage a large share of India’s crude oil imports, refining capacity, and distribution network.

Additionally, private companies like Reliance Industries and Nayara Energy are significant importers of crude oil, operating some of the world’s largest refineries. Reliance’s refinery in Jamnagar is one of the largest single-location refineries globally, processing a large portion of India’s imported crude oil.

India's Crude Oil Import Data: A Snapshot

To understand the scale of India's crude oil imports, it is essential to look at the available data. In the fiscal year 2022-2023, India imported approximately 220 million metric tons of crude oil. The value of these imports fluctuates based on global oil prices but is consistently a significant part of India's trade deficit.

The diversification of supply sources, especially from regions like Africa and the U.S., has become increasingly important. India aims to reduce its dependency on any single region while continuing to secure favorable trade deals.

Conclusion

India’s crude oil imports are pivotal to its energy security and economic growth. As one of the biggest crude oil importers in the world, India has built strong relationships with suppliers across the globe, from the Middle East to the U.S. and Africa. The future of crude oil importers in India will be shaped by geopolitical factors, advancements in energy technologies, and India's evolving energy mix. Diversifying its supply sources and exploring alternatives to crude oil will remain critical to India’s energy strategy in the years to come. However if you need detailed report on India's crude oil import data, or crude Hs code mconnect with ExportImportData.in.

Also Read: Understanding Top Exports of Turkey in 2024: Key Insights

[viv-spn]

The most important leaf in human history.

It's full of stories, full of history. And full of a future that never got lived. Days that should have been that never were. Passed on to me. This leaf isn't just the past, it's a whole future that never happened. There are billions and millions of unlived days for every day we live. An infinity. All the days that never came. And these are all my mum's.

[pickledfingers]

I've said this before and I will say it again, but watching Americans and Europeans online talk about how Israel is the "one true democracy in the Middle East" and "should be protected" makes me a special kind of mad as an Iranian who has watched America and Europe topple any kind of democracy and progressivism in the Middle East for decades.

[absolutelyzoned]

fuckin love when characters have shit written on their helmets/armor. obviously its cool to begin with but a little doodle or phrase really makes em !!!!! yknow!!! i love it!!!

[derekthesavage]

Real talk, Americans: If the Republican party keeps implying that it's gay to blow a trans woman's back out every night for fifteen months straight before dumping her over text on her birthday, I might have to vote blue in November.

[dronebiscuitbat]

Oil is Thicker Then Blood (Part 39)

The whole first half of this chapter is just one very thinly veiled dirty joke… I'm not sorry.

“Uhhh, what's this for again?” N asked, slightly confused and nervous as he stood board straight, tail as still as possible as Uzi hovered near it with a measuring tape.

“Dad wants to baby proof your tail and needs the exact measurements. Tera's been swinging her arms around, I don't want her to accidentally sting herself.”

He thought for a moment, the dreaded image hanging in his head a moment before he looked over at the crib where Tera had finally settled into her nap.

“Yeah… that's a good idea, guess being smart runs in the family.”

She hummed at the complement, smiling although at this point she was getting accustomed to his honeyed words, she looked back up at him, a small laugh laced in her voice that for some reason sent a wonton shudder up his spine.

“Hoping our kids pick it up?” She teased, causing the brightest of blushes to grace N's face, and his tail to misbehave, wagging away from her.

“Uziiii” He whined, not quite used to her flirting back. Thier nervous, tentative “getting together” jitters had ended, leaving much more room for flirtatious teasing, something told him Uzi would be making him blush more often…

“I'm teasing, keep still.” She giggled, waiting until his tail stilled by itself before trying to measure it without touching it.

It was… a little more difficult then she imagined, he was being as still as possible for her, but his tail still moved slightly, waving from side to side, or twitching, making it impossible to measure.

“N, I think I'm going to have to touch your tail. It's not being still enough for me to get any good measurements.”

He gulped, he had been a little wary of this being the case, he wasn't scared, at least not of her, but it wasn't something he was sure he would be able to handle, still though… having a large syringe full of acid attached to his tail was unsafe around a toddler, and Uzi would never hurt him… willingly.

“I'll be as quick as possible, tell me if it's painful, okay?”

“I trust you.” The words sounded far more confident then he actually was, so confident in fact, that Uzi just nodded, smiling breifly at him, and didn't question his resolve.

Her hand connected with the bottom of the vial, and a shaky gasp immediately erupted out of N's mouth, and he made every effort to not immediately yank his tail away, despite the electricity arching through his tail directly into his core.

“It's okay, I'm not gonna hurt you.” She comforted, watching as the rest of his body stiffened and curled into itself, hands gripping gently onto his own coat.

She took note of the vial, the liquid inside warm in her palm, despite her curiosity, she did her best not to linger, she gripped it gently to keep it steady, causing another noise to come up out of N's throat that they both vehemently ignored.

N gripped onto his own coat even tighter, he couldn't help but compare this to all the times J had given rough treatment to his tail, even if it felt nothing like it.

Her hold was firm, probably so the tip of his tail wouldn't move out of her grasp, but still loose enough he didn't feel trapped, like he still had the choice to move away if he needed to, he slowly relaxed, this was fine.

His tail wasn't being abused until it was oversenstive to hell and back, it was just being held, gently, carefully, by someone who's intentions were only ever good, who didn't want to hurt him, or punish him, or to feel like they had power over him (though she did, she just had to ask). Just… someone who loved him.

At that, the exact sensation of her fingers carefully on his vial came through the previous radio-static of nervousness and muscle- memorized fear, her fingers were colder then the tip of his tail, a shudder went through him, feeling the shocking temperature difference.

“Almost done, you're doing great.” She called out to him, the praise momentarily sending a haze through his systems that was so violently different then what he was used to that his visor displayed the words [Good Boy?] With a little heart at the bottom of the question mark.

Then he blushed, quickly shaking the words away. Very glad that Uzi was down near his tail and nowhere near being able to see the embarrassing words that had displayed so shamelessly.

He wasn't a dog! The heck was wrong with him?

Uzi moved on to the needle, squeezing the canister of his tail just a little bit more firmly in order to get the perfect measurement, her tongue held at the corner of her mouth as she logged each precise measurement into a file she'd made labeled (N's Stinger Thing <3)

A very quiet whimper left him as he felt the pressure on the needle, forcing out several drops of nanite acid that thankfully harmlessly dripped onto the old wooden floor, although Uzi did notice and tried her best to hurry.

“Sorry…” She said as she gritted her teeth, man that didn't look comfortable at all…

He didn't reply, deciding keeping his mouth shut was the least embarrassing option he had, holycrapholycrapholycrap.

Then, she was done, her hands quickly moving away from his tail, this too, was a strange sensation, the absence of touch being now more uncomfortable than the presence of it.

He didn’t think too hard about what that implied.

“Done! It didn't hurt did it?” She immediately asked, pulling on him to face her, although she was met with him biting his own lip and the worst blush she'd ever seen on his face.

“N?”

“N-no! You didn't-” his tail suddenly jerked upwards, as if it had just realized it was free, and he made a grumbling noise before he continued “-hurt me, promise, I'm fine!”

“Are you sure? You don't have to hide it if I did.” Oh Biscuits, she sounded so ernest, and it was something he would normally appreciate, but not in precisely this moment, where he was trying to keep from embarrassing himself.

“I'm sure, biscuit.”

“Mmm.” She grumbled, pouting at the cutesy pet name but blushing lightly, she was used to most of his honeyed words… just not the pet names.

She quickly sent the measurements over to her dad, before sighing, looking over at her daughter, still asleep.

She is safe, you are doing well.

Ah yes, the strangly maternal voice in her head was back giving her unneeded and slightly worrying reassurances. It would be better if that voice would give her better advice, like why the heck her daughter was teething.

Isn't this a good thing? The kit will need to hunt for herself eventually.

She almost growled at that thought, No. No Tera would never have to hunt, not like N, and not like her, as long as she was around she would only know oil as the coolant she needed occasionally, not the blood of other people, not connected to violence.

The voice did not have a reply.

Her attention turned back to N, who had seemingly recovered from… whatever had been causing that weird look on his face and was also looking over at the crib.

Your mate is troubled.

My fucking what now?!

“Hey, how did your dad get so much furniture and decoration for his place?” He asked suddenly, bringing her attention away from her own headspace, she snapped to attention, although she needed a moment to register what he said.

“He bought it.” She replied simply

“Right, with money.” N responded, looking slightly more panicked then he was a moment ago.

“Y-yeah?” She was now confused, what was he getting at?

“Uzi, neither of us have jobs… did we need to pay rent? Or- for all those trips to the nursery”

“Oh N, chill.” She laughed a little, clutching one of his hands to get him out of his spiral. “We don't have to pay for basic housing or medical stuff, all that comes just from living in the bunker, it's just furniture, clothes, like… nonessential stuff.”

“Ooooh… yeah okay.” He visibly relaxed a little bit, but it was clear he had something else on his mind as well.

“Our dead masters enslaved us in the name of capitalism, why would we continue it?”

He thought for moment before shrugging, then scratched the back of his neck awkwardly.

“I guess I just feel bad, taking advantage of everything without giving back… we've been living here for over a month now, just feels… wrong?”

“I mean, you could get a job? But the only thing you'll be earning are… ugh merit tokens.” She groaned, of all the things the colony perpetrated from thier human controlled days, that had been the most demeaning.

Not just because she was near the bottom of that leaderboard, no, not at all.

“Merit tokens?”

“The colonies way of keeping track of who's done more for it, like building doors for example, or volunteering in the nursery.”

“And you buy stuff with that?”

“Yup, but it's not anything physical, you just exchange them digitally. I don't know what the big deal is though, if you want something we could always go scavenge for it.” She tried to drag him away from his previous line of thinking, she liked him here, hanging out every day, without ever worrying about when or if, he'd be back.

“How? Tera throws a tantrum if one of us isn't around. Plus I wanna help people! They gave me an apartment!” Ugh, she hated his correct logic, but an income of tokens would afford them access to the colonies part stockplie…

“My dad gave you an apartment.” She corrected, still not liking where this was going.

“Same thing!”

She thought for a moment, while a part of her heart ached at the thought of him bring gone for a portion of every day, he kinda had a point, they couldn't scavenge anymore, that was a two person job with Doll still at large and… whatever weirdness that was happening in their room, but she still needed things for her gun, material to tinker with, stuff they could only get if they had money.

She sighed.

“Do you… wanna go ask him for a job?”

“Yes!”

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