Petroleum product exports from India decline by 10.9% in March 2023: Report

New Delhi, Apr 26 (KNN) According to the monthly data by the Petroleum Planning and Analysis Cell (PPAC), a body of petroleum ministry, India’s export of petroleum products decreased by 10.9 per cent in March 2023.

As per the data, the petroleum products witnessed a decline of 2.7 per cent during April 2022-March 2023 as compared to the corresponding period of the previous year.

“Decrease in POL (petroleum, oils and lubricants) products exports during April -March 2022-23 were mainly due to decrease in exports of motor spirit (MS), naphtha, superior kerosene oil (SKO) and high speed diesel (HSD),” it said.

This comes after India’s crude oil imports increased by 8.9 per cent and 9.5 per cent during March 2023 and April 2022-March 2023, respectively. 

As per reports, the production of indigenous crude oil and condensate production was down by 1.7 per cent in March 2023. Crude oil processed increased by 5.6 per cent during April-March 2023 as compared to last year.

The petroleum product imports decreased by 0.7 per cent and increased by 12.3 per cent during March 2023 and April 2022-March 2023, respectively.  (KNN Bureau)