Base Oil Report

Origin wise Base Oil import to India,Country and percentage March 2021Indian energy demand is taking a big hit as Covid-19 runs rampant across the country. But uncertainty around when the virus wave will subside and the lack of a unified government response has left the oil industry in the dark as to how quickly consumption might pick up again. Te demand destruction over the last couple of months has been less severe than last year when the government imposed the world’s biggest national lockdown. However, the lack of a coordinated effort to shut down activity to halt the virus’s spread will likely lead to a longer, although less pronounced, economic slump. Diesel and gasoline, which account for more than half of oil consumption in India, are bearing the brunt of localized lockdowns. Sales of the two fuels at the three biggest retailers are about a third lower so far in May compared with pre-virus levels two years earlier. That’s not as bad as April 2020, however, when demand nearly halved. This time around, more factories have remained open and cargo movements between states haven’t been as badly affected.

India Exported 29947 MT of Light & Heavy White Oil in March 2021. Most of the Base Oil was exported to Kenya, Tanzania, Brazil and Bangladesh with smaller quantities exported to Latvia and Chile. Some of the largest Light & Heavy White Oil exporters during the month were Panama Petrochem Ltd with 8213 MT, Gandhar Oil Refinery (India) Ltd with 5301 MT, Savita Oil Technologies Ltd with 4401 MT, Savita Oil Technologies Ltd with 3645 MT, Apar Industries Ltd with 3645 MT, Raj Petro Specialities Pvt Ltd with 2687 MT & Indian Oil Corporation Ltd with 2600 MT.

Month wise import of Base Oil in India

India Exported 2943 MT of Transformer Oil in March 2021. Most of the Base Oil was exported to Saudi Arabia, Bangladesh, Turkey and Indonesia with smaller quantities exported to Qatar and Algeria. Some of the largest Transformer Oil exporters during the month were Apar Industries Limited with 1671 MT, Savita Oil Technologies Limited with 568 MT and Raj Petro Specialities Pvt. Ltd. with 464 MT.

Base Oil Group I & Group II+ CFR India prices in USD/PMT
Month N–500 Korea Origin SN–150 Iran Origin N–70 Korea Origin RPO Drums (Aromatic Extract)
Mar-21 775–805 810–830 755–780 1020–1045
Apr-21 880–925 915–965 860–895 1230–1255
May-21 990–1030 980–1010 885–920 1380–1430
Since March 2021, prices have increased by USD/PMT in May 2021 220 (28%) 175 (21%) 135 (18%) 373 (36%)
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