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India's November Crude Imports Mark Biggest Decline in Nearly Four Years

The fall was largely attributed to maintenance shutdowns at some refineries. In November, oil imports from Iran also declined to the lowest level in a year as purchases were curbed as a result of the re-imposition of US sanctions on Iran.

Reuters

Updated:December 20, 2018, 8:58 PM IST
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India's November Crude Imports Mark Biggest Decline in Nearly Four Years
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New Delhi: The monthly crude oil imports in November marked their biggest year-on-year decline in nearly four years, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Thursday.

The November crude imports slid 11.4 percent to 17.01 million tonnes, registering their largest year-on-year percentage fall since Feb 2015, when it tumbled 21.3 percent, the government data showed.

The fall was largely attributed to maintenance shutdowns at some refineries.

In November, oil imports from Iran also declined to the lowest level in a year as purchases were curbed as a result of the re-imposition of US sanctions on Iran.

Meanwhile, imports of oil products declined about 7 percent and exports fell 6.8 percent, the data showed.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
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