Processing volumes of crude oil surges to 23.4 mmt in March: PPAC figures

As per the reports, in comparison to 23 MMT of oil processed in March 2023, the overall processed volumes increased by 1.6%.


In March, the amount of crude oil refined by Indian refiners reached 23.4 million metric tonnes (MMT), according to figures made public on Thursday by the Petroleum Planning and Analysis Cell (PPAC).

Government-regulated oil public sector undertakings (PSUs) and joint ventures processed 16.1 MMT of the total volume processed in March, while private refiners processed 7.3 MMT of crude oil.With 2.5 MMT produced in the most recent month, domestic crude output was at stable levels.

Russian Crude Oil Flow to India to Grow in 2024 Amid De-Dollarisation

Oil and Natural Gas Corporation (ONGC), a state-owned company, supplied 1.6 MMT of the 2.5 MMT produced, with Oil India Limited (OIL) contributing 0.3 MMT.

Based on estimates from London-based commodity data analytics company Vortexa, which measures imports using ship movements, Russia was still the world’s top supplier of crude oil as of March, continuing an 18-month trend.

In October, the gross output of natural gas was 3,138 million metric standard cubic meters (MMSCM), an increase of 6.2% over the same month in the previous year. While in March, the market witnessed a widening of the gap between domestic gas output and imports to 2,456 MMSCM.