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Business & Finance

Indian refiner Reliance's March oil imports down 10.3pc y/y

  • The March imports, at about 1.12 million barrels per day, were 10.8% above the previous month, the data showed.
  • Reliance shipped in about 11% of its imports from Latin America, compared with 43% a year ago, as the private refiner has stopped buying Venezuelan oil under pressure from US sanctions, the data showed.
Published May 3, 2021

NEW DELHI: India's Reliance Industries, owner of the world's biggest refining complex, imported 10.3% less oil in March than in the same month of the previous year, according to data from shipping and industry sources.

The March imports, at about 1.12 million barrels per day, were 10.8% above the previous month, the data showed.

Reliance shipped in about 11% of its imports from Latin America, compared with 43% a year ago, as the private refiner has stopped buying Venezuelan oil under pressure from US sanctions, the data showed.

Middle Eastern oil accounted for about 59% for Reliance's overall purchases, compared with about 43% a year ago, while the share of US oil rose to about 12% from 10%, the data showed. The share of African oil rose to about 12% from 1.4%.

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