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    Fuel exports fall in June

    Synopsis

    India has the fourth-largest refining capacity in the world and is a net exporter of petroleum products. Petrol and diesel comprise two-thirds of total petroleum exports from the country.

    Fuel Exports Fall in June
    Net export of diesel and petrol declined 23% and 8% respectively in June over May as exports fell and imports rose to meet the soaring domestic demand at a time when local refineries are operating above their nameplate capacity.

    India has the fourth-largest refining capacity in the world and is a net exporter of petroleum products. Petrol and diesel comprise two-thirds of total petroleum exports from the country.

    Import of petrol and diesel rose to 246,000 metric tonnes in June from 36,000 metric tonnes in May but was a fraction of total exports. The combined export of petrol and diesel fell to 3,614,000 metric tonnes in June from 4,215,000 metric tonnes.

    The fall in net export is an indicator of increased consumption of refined fuels in the country as well as an expectation that fuel demand would remain strong in the coming months, an industry executive said.

    Private refiners Reliance Industries and Rosneft-backed Nayara Energy are the biggest exporters of refined fuels, accounting for 80-85% of total petroleum exports from the country. State-run standalone refiners such as MRPL, which don't have a fuel retail chain, also cater to the export market.

    State-run refiners, which operate petrol pumps, mostly buy fuels at international prices from private refiners as well as standalone refiners to meet their supply shortfall in the domestic market. But if they can't get enough supplies quickly, they tap the overseas markets.



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