Export of Petroleum Products Up 8.3% in March

India's export of petroleum products in March increased by 8.3% to 1.47 million barrels per day against 1.35 million barrels per day in March 2024, the highest level for the month in recent years, as per data from global real-time data and analytics provider Kpler.

- Arunima Bharadwaj

However, compared to the previous month, the exports declined by 2% from 1.49 million barrels per day in February.

"This increase was driven by fiscal year-end effects and elevated refinery run rates during February and March. Kpler estimates crude throughput for February-March at around 5.6-5.7 million barrels per day," said Sumit Ritolia, lead research analyst, refining & modeling at Kpler.

The United Arab Emirates emerged as the top destination for the country's exports in March, followed by Singapore, and the Netherlands.

India exported 179,000 barrels per day of petroleum products to the United Arab Emirates last month, down 7.2% from 193,000 barrels per day in February.

Exports to Singapore and the United States also declined by 3% and 53.4% sequentially to 159,000 bpd and 62,000 bpd, respectively in March.