India’s oil imports down by 8.3% in April y-o-y
OIL & GAS

India’s oil imports down by 8.3% in April y-o-y

According to government data, India's imports of crude oil decreased by 8.3% in April 2023 compared to the same month the year before. India bought 19.8 MMT of crude oil in April as opposed to 21.6 MMT in April 2022. The overall cost of importing crude oil in April 2023 was USD 10.8 billion, which was less than the USD 16.8 billion total cost in April 2022. India's imports of crude oil have decreased by 3.41 percent month over month. India paid USD 11.6 billion to purchase 20.5 MMT of crude oil in March of this year.

This is the highest monthly drop in crude oil imports over the past year, according to a study of historical statistics for the prior fiscal year.

According to government data, India's imports of crude oil decreased by 8.3% in April 2023 compared to the same month the year before. India bought 19.8 MMT of crude oil in April as opposed to 21.6 MMT in April 2022. The overall cost of importing crude oil in April 2023 was USD 10.8 billion, which was less than the USD 16.8 billion total cost in April 2022. India's imports of crude oil have decreased by 3.41 percent month over month. India paid USD 11.6 billion to purchase 20.5 MMT of crude oil in March of this year. This is the highest monthly drop in crude oil imports over the past year, according to a study of historical statistics for the prior fiscal year.

Next Story
Infrastructure Energy

TNPDC hesitant to install prepaid meters

While the Tamil Nadu Power Distribution Company (TNPDC) remains hesitant to implement prepaid smart meters, many consumers have expressed support for the idea. The Union Power Ministry has recommended TNPDC consider adopting prepaid meters to offer consumers greater flexibility and convenience.In a recent meeting, Union Minister for Power and Urban Affairs, Manohar Lal, urged TNPDC officials to explore both prepaid and postpaid options, suggesting special benefits for those who opt for prepaid meters. Tamil Nadu’s Electricity Minister, V. Senthil Balaji, highlighted the state's current posit..

Next Story
Infrastructure Transport

Sonowal inaugurates key infra projects at Chennai and Kamarajar ports

"Union Minister for Ports, Shipping & Waterways, Sarbananda Sonowal, inaugurated infrastructure projects worth ₹187.33 crore to strengthen operations at Chennai and Kamarajar Ports, enhancing India's maritime infrastructure and green port initiatives.The key projects include:EXIM Godowns at Chennai Port: Four newly constructed godowns, covering 18,000 square meters at a cost of ₹73.91 crore, will provide storage for sensitive cargo, such as agricultural products and food grains. This project, funded under the Sagarmala scheme, supports India’s goal of expanding trade capacity at ma..

Next Story
Infrastructure Energy

Cairn becomes India’s 1st oil & gas company to join UNEP’s OGMP 2.0

Cairn Oil & Gas, part of Vedanta Group, has become the first oil and gas producer in India to sign a memorandum of understanding (MoU) with the United Nations Environment Programme's flagship methane reporting and mitigation initiative, Oil & Gas Methane Partnership (OGMP) 2.0. This commitment marks Cairn’s dedication to reducing methane emissions in line with global sustainability goals.OGMP 2.0 provides a comprehensive framework for managing methane emissions, focusing on accurate measurement, reporting, and verification (MRV) to drive effective reductions. Under the MoU, Cairn wil..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000