Overview
- Official PPAC data show import dependence at 88.6% in April–January FY26, up from 88.2% a year earlier, indicating the full-year share could edge to a new high.
- Crude imports reached 206.3 million tonnes in the 10 months to January, while domestic output slipped to 23.5 million tonnes, leaving self-sufficiency at 11.4%.
- Indian refiners processed 5.63 million barrels per day in January, a 0.2% month-on-month dip, as fuel consumption totaled 21.05 million tonnes, nearly 3% above January 2025.
- Refiners have increased purchases from Nigeria and Angola, and U.S. OFAC granted Reliance a general license to buy Venezuelan-origin crude.
- Preliminary figures indicate January crude imports were near an all-time high at about 5.2 million barrels per day as buyers reduced reliance on Russian barrels.