New Delhi: India’s export of petroleum products in April declined by 22% to 1.12 million barrels per day. It was at 1.44 million barrels per day in March. Data released by global real-time data and analytics provider Kpler showed this.
On an year-on-year basis, India’s export of petroleum products fell over 7% from 1.20 million barrels in April 2024. The United Arab Emirates, Singapore, and Netherlands emerged as the top destinations for the India’s petroleum products exports last month. However, exports to all three countries declined in April.
While exports to the UAE declined by 33% to 114,000 barrels per day in April against 170,000 bpd in March, that to Singapore registered a decline of 17% to 107,000 barrels per day from March. The Netherlands also saw a decline of 4% to 120,000 barrels per day sequentially in April.
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‘Diesel continued to dominate India’s clean product outflows, with the United Arab Emirates, Singapore, and East Africa emerging as the top destinations, while gasoline volumes primarily flowed toward Malaysia and Indonesia,’ Sumit Ritolia, Lead Research Analyst, Refining & Modeling at Kpler said.
India primarily supplies petroleum products to countries in Europe and Asia. The country has emerged as a major fuel supplier to Europe in the past few months after European countries started boycotting Russian supplies post its invasion of Ukraine.
India’s refined oil products exports to the US increased by 53% to 89,000 bpd in April. While the US imposed reciprocal tariffs of 26% on India, some goods including energy and other certain minerals have been exempted from the tariffs.