In July, Indian refineries processed 21.9 million metric tonnes (MMT) of crude oil, a 2.2% rise over the 21.42 MMT handled in July 2022, according to data made public by the Petroleum Planning and Analysis Cell (PPAC). From June, the refining throughput increased by 1.7% sequentially.
Government-owned oil public sector undertakings (PSUs) and joint ventures processed 14.7 MMT of the total, while 7.2 MMT of the crude oil was processed by private refiners. In the meantime, domestic crude production increased annually by 2.1% to 2.50 MMT in July. The output increased by 2.8% sequentially from the 2.43 MMT recorded in June. State-owned Oil and Natural Gas Corporation (ONGC) provided 1.62 MMT of the 2.5 MMT produced, followed by Oil India Limited (OIL) with 0.28 MMT.
The total volume of crude oil imported during the first four months of the current fiscal year decreased by 2.3%. During this time, imports from the Organization of the Petroleum Exporting Countries (OPEC) dropped from 63.8% of all imports during the same period the previous year to only 45% of total imports.