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Month-wise Import of Base Oil in IndiaThe price of International crude oil of Indian Basket was USD 54.56 per barrel (bbl) on mid September this year compared to USD 53.83 per bbl previously on the starting of this month. By considering this on Indian rupees, the price of Indian Basket increased to Rs 3495.38 per bbl on mid of September as compared to Rs 3443.89 per bbl previously.

Because of the weakening of Global markets, the prices of oil fell following North Korea's latest missile launch, but crude remained close to fve-month highs reached this week on bullish demand forecasts and U.S. refneries restarting.

India's Bharat Oman Refneries Ltd (BORL) has bought, via tender, its frst crude cargo from the United States, which will be delivered in November. Trafgura will deliver 1 million barrels of Mars crude from the U.S. Gulf of Mexico to BORL. BORL is likely the third Indian oil refner, after Indian Oil Corp and Bharat Petroleum Corp, to import U.S. crude. Hindustan Petroleum Corp has also said about the plans of buying U.S. in the next few months.

During the period January to July 2017, India imported 1.31 million MT of Base Oil.

India’s major imports are from Korea, Singapore, USA, UAE, Iran, Taiwan, France, UK, Netherlands, Japan, Italy, Belgium, etc. Indian State Oil PSU’s IOC/HPCL/BPCL has changed their base oil numbers as reflected in the price chart effective September 01, 2017.

During the period January to July 2017, India imported 1.31 million MT of Base Oil.

Origin-wise Import of Base oil into India (January’17-July’17)
Base Oil Imported From Mt %
South Korea 500,428 38%
UAE 297,286 23%
Singapore 190,771 14%
USA 176,429 13%
Spain 49,576 4%
Taiwan 31,685 2%
Sweden 18,808 1%
Iran 7,410 1%
Other Countries 47,446 4%
Port-wise Import of Base oil into India (January’17-July’17)
Base Oil Imported Into MT %
Mumbai 914,525 69
JNPT 212,028 16
Pipavav 51,800 4
Base Oil Group I & Group II CFR India prices
Month Group I - J 500 Singapore SN-150 Iran N- 70 South Korea Bright Stock-150
April2017 705 – 720 640 - 655 650 - 660 1060 - 1080
May2017 705 – 720 640 - 655 650 - 660 1060 - 1080
June2017 705 – 720 640 - 655 650 - 660 1060 - 1080
July2017 705 – 720 640 - 755 650 - 660 1060 - 1080
August2017 705 – 720 640 - 655 650 - 660 1060 - 1080
September2017 710 – 725 645 - 660 655 - 665 1065 - 1085
Prices changes from April to September 2017 Have gone up by USD 5 PMT (1%) Have remained same Have gone up by USD 5 PMT (1%) Have hike up by USD 5 PMT

About the Author

Dhiren Shah

Dhiren Shah is a Chemical Engineer and Editor-in-Chief of Petrosil Group, who started his career with a reputed transformer oil manufacturing company in India as Sales Engineer and enhanced his knowledge by undergoing a business management course at the Indian Merchants Chamber. He later ventured and specialized in imports and logistics of petroleum products for 10 years and in 2002 became part of the Petrosil Group. He is instrumental in developing the various Petrosil brands. He loves to read and travel and is also an avid internet surfer. Contact Dhiren at dhiren@petrosil.com

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