Published by VAS Tribology Solutions

Base Oil Report

Origin wise Base Oil import to India, Country and %, November 2020

India’s crude oil processing registered its first year gain in December 2020, driven by a surge in demand for fuels. Crude oil throughput in December rose 0.9% to 21.02 million tones. At the heart of the pick-up in crude oil processing, fuel consumption rose 4.1% to 18.6 million tons in December, its highest since January 2020.

The Indian domestic market Korean origin Group II plus N-60–70/150/500 prices at the current level are marginally up for lighter grades and heavier grades. As per conversation with domestic importers and traders prices for N – 70/ N- 150/ N - 500 grades and at the current level are quoted in the range of Rupees 55.30 – 55.45/55.25- 55.40/62.00 – 62.15 per litre in bulk plus 18% GST as applicable. Discounts are being offered for sizeable quantity. The above-mentioned prices are offered by a manufacturer who also offers the grades in the domestic market, while another importer trader is offering the grades cheaper by Rs.0.30 – 0.35 per litre on basic prices. Light Liquid Paraffin (IP) is priced at Rupees 56.10 – 56.25 per liter in bulk and Heavy Liquid paraffin (IP) is Rs.66.20 – 66.35 per litre in bulk respectively plus GST as applicable.

While in the month of November 2020, India imported 463563 MT of Base Oil, India imported the huge quantum in small shipments on different ports like 211608 MT (46%) into Mumbai, 90416 MT (20%) into Hazira, 60899 MT (13%) into JNPT, 26365 MT (6%) into Chennai, 24229 MT (5%) into Mundra, 24026 MT (5%) into Kandla, 16372 MT (4%) into Pipavav, 4965 MT (1%) into Kolkata and 4682 MT (1%) into Other Ports.

Month wise import of Base Oil in India
Base Oil Group I & Group II CFR India prices in USD / PMT
Month N-70 Korea Origin Base Oil CFR India Bright Stock USA Origin N-500 Singapore Origin RPO Drums (Aromatic Extract)
November 2020 555 - 570 625 - 665 545 - 570 240 - 255
December 2020 655 - 665 720 - 750 615 - 645 300 - 315
January 2021 710 - 740 I 805 - 835 680 - 720 345 - 365
Since November 2020, prices have increased by / in January 2021 165 (30%) 175 (27%) 145 (26%) 105 (40%)
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

Machinery Lubrication India