India is The 2nd Largest Refiner in Asia
India is the 3rd largest energy and oil consumer in the world after China and the US. Oil and gas occupied approximately 35% share in India’s energy consumption. India is the fourth largest importer of liquefied natural gas (LNG) after Japan, South Korea, and China, accounting for 7.4% of the total global trade.
Import of crude oil during April-November 2017 stood at 144.7 MMT valued at approximately $ 51.1 bn, marking an increase of 9.31% in quantity terms and 15.3% in value terms compared to the same period of last year. While, imports of petroleum products during April-November 2017 were 23.76 MMT valued at approximately $ 7.9 bn, which shows a decrease of 4.91% in quantity terms but an increase of 21% in value terms compared to the corresponding period of previous year.