Published by VAS Tribology Solutions

Base Oil Report

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

OPEC and a group of 23 major oil-producing countries that had cut crude oil production levels during the peak of the Covid-19 pandemic, the price of Brent crude fell to below $20 per barrel, have decided to maintain lower production levels through April. A consistent rise in crude oil prices has contributed to auto fuel prices reaching record highs in India as it import over 80 per cent of its crude oil requirements.

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. 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 62.80–63.00/63.00-63.15/75.00–75.20 per liter 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 offers the grades cheaper by Rupees 0.30–0.35 per liter on basic prices. Light Liquid Parafn (IP) is priced at Rupees 64.35–64.50 per liter in bulk and Heavy Liquid parafn (IP) is Rupees 81.45–81.60 per liter in bulk respectively plus GST as applicable.

In the month of December 2020, India imported 452372 MT of Base Oil, India imported the huge quantum in small shipments on different ports like 202502 MT (45%) into Mumbai, 71855 MT (16%) into Hazira, 59981 MT (13%) into JNPT, 34300 MT (8%) into Mundra, 27874 MT (6%) into Kandla, 22929 MT (5%) into Chennai, 19173 MT (4%) into Pipavav, 8264 MT (2%) into Kolkata, 2629 MT (1%) into Delhi and 2867 MT (1%) into Other Ports.

Month wise import of Base Oil in India
Month N-500 Korea Origin Base Oil CFR India Prices SN-150 Iran Origin Base Oil CFR India Prices N-70 Korea Origin Base Oil CFR India Prices RPO Drums (Aromatic Extract) CFR India Prices
January 2021 725–760 645–660 655–675 345–365
February 2020 760–795 675–685 680-690 375–385
March 2021 860–860 760–790 755-780 395–405
Since January 2021, prices have increased by USD/PMT in March 2021 105 (14%) 125 (19%) 105 (16%) 45 (13%)
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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