The production of petroleum products rose to 25.3 MMT in December 2024, up 2.9% from December 2023.India’s indigenous crude oil and condensate production for December 2024 stood at 2.5 million metric tonnes (MMT), recording a modest growth of 0.6% compared to the same period last year, according to data released by the Petroleum Planning & Analysis Cell (PPAC).
Of the total production, Oil India Limited (OIL) contributed 0.3 MMT, Oil and Natural Gas Corporation (ONGC) accounted for 1.6 MMT, and Production Sharing Contracts (PSC)/Revenue Sharing Contracts (RSC) added 0.6 MMT.
Crude oil processing jumps 5.2%
Crude oil processing in December 2024 reached 23.9 MMT, registering a 5.2% increase over December 2023. Public Sector Undertaking (PSU) and Joint Venture (JV) refiners processed 16.3 MMT, while private refiners accounted for 7.5 MMT.
Of the total crude processed, indigenous crude contributed 2.1 MMT, while imports dominated at 21.8 MMT. During April-December FY 2024-25, crude oil processing grew by 2.2% compared to the corresponding period of the previous fiscal year.
Petroleum product output up 2.9%
The production of petroleum products rose to 25.3 MMT in December 2024, up 2.9% from December 2023. Refinery production contributed 24.9 MMT, while 0.3 MMT came from fractionators.
In the April-December period of FY 2024-25, petroleum product output increased by 2.8% over the same period in FY 2023-24. High-speed diesel (HSD) made up 41.8% of the total production, followed by motor spirit (MS) at 17.3%, naphtha at 6.2%, aviation turbine fuel (ATF) at 6.6%, petroleum coke at 5.2%, and liquefied petroleum gas (LPG) at 4.5%.
Imports and exports
Crude oil imports increased by 1.5% in December 2024 and 3.3% during April-December FY 2024-25 compared to the corresponding periods of the previous year. Imports of petroleum products also rose by 4.3% in December and 6.9% in the April-December period, primarily driven by higher imports of LPG and petcoke.
Exports of petroleum products declined by 1.5% in December 2024 but saw a 2.3% rise during April-December FY 2024-25, driven by higher exports of motor spirit (MS), aviation turbine fuel (ATF), and petcoke/carbon black feedstock (CBFS).
