INSUBCONTINENT EXCLUSIVE:
Crude imports rose as many refiners resumed purchases after maintenance of units.Crude oil imports in October rose to their highest level in
at least more than seven years, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed
Crude imports in October climbed 10.5 per cent from a year earlier to 21.02 million tonnes, the highest monthly import figure in PPAC data
Imports rose as many refiners resumed purchases after maintenance of units
In October, oil imports from Africa surged to more than a three-year high, showed the data released on Tuesday.Oil imports typically rise
from October due to higher fuel demand in the festival season and as industrial activity picks up after months of monsoon rains.India is
among the eight countries to have received a waiver from the United States to continue crude oil imports from Iran without penalty after
sanctions were reimposed on Tehran.Oil imports from Iran fell by about 12 per cent to about 466,000 bpd in October
The country's overall purchases from Iran in the April-October period, the first seven months of the current fiscal year, rose 34 per
cent.Meanwhile, imports of oil products declined nearly 20 per cent and exports fell more than 4 per cent, the data showed.
