Monday, June 27, 2022
Connexionblog
  • Home
  • World
  • Lifestyle

    Trending Tags

    • Pandemic
  • Business
  • Entertainment
  • Sports
No Result
View All Result
  • Home
  • World
  • Lifestyle

    Trending Tags

    • Pandemic
  • Business
  • Entertainment
  • Sports
No Result
View All Result
Connexionblog
No Result
View All Result
Home Business

India’s spending on oil imports doubled, bought oil worth $ 119 billion in FY22

Connexionblog by Connexionblog
April 25, 2022
in Business
0
भारत का Oil Import पर खर्च हुआ दोगुना
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
bredcrumb bredcrumb

Msme

|

Published: Monday, April 25, 2022, 16:15 [IST]

New Delhi, April 25. India’s crude oil import spending nearly doubled to $119 billion in the fiscal year 2021-22 that ended in March. This is due to the increase in demand and the increase in energy prices globally due to the war in Ukraine. India is the third largest country in the world in terms of oil consumption and import.

India's Oil Import Expenditure Doubled

According to data from the Petroleum Planning and Analysis Cell (PPAC) of the Oil Ministry, India spent $119.2 billion on oil imports between April 2021 and March 2022. Its oil import bill stood at $62.2 billion in the same period last year. When oil prices hit a 14-year high in March, India spent $13.7 billion on oil imports in this month alone, compared to $8.4 billion in the same period last year.

Globally, oil prices started rising from January and crossed $100 a barrel in February. At the beginning of March, the price of oil had reached a record high of $140 per barrel. However, after that the prices started falling and now it is around $ 106 per barrel. According to PPAC, India imported 212.21 million tonnes of crude oil in the financial year 2021-22, compared to 19.65 million tonnes in the previous year.

This is lower than the year 2019-20 before the pandemic when 227 million tonnes of oil was imported. Then 101.4 billion dollars were spent on oil imports. India depends on imports for 85.5% of its crude oil requirements. According to PPAC, India’s reliance on oil imports was 85 per cent in 2019-20, which fell to 84.4 per cent in the subsequent year, but in 2021-22 it once again increased to 85.5 per cent.

  • Reliance’s bat-bat, will earn by tearing the roof
  • Inflation hit: crude oil prices may rise
  • The time has come for petrol to become cheaper, crude oil has come down to 100 dollars
  • Russia’s warning: Oil prices may go up to $ 300, know what will be the effect on Indians
  • Stock market and rupee weak, gold-crude oil rises, know why this is happening and what you should do
  • Impact of Ukraine-Russia war: Crude oil crosses $110 per barrel
  • Crude oil prices rose due to tension in the Middle East, reached a record level of 7 years
  • Oil companies are making petrol-diesel cheaper, know why
  • Rise in crude oil prices, know what will be the effect on you
  • Petrol is being sold at many times the rate of Crude Oil, the reason will surprise
  • In November, the production of 8 core industries declined for the 9th consecutive month.
  • US Presidential Election: Oil prices rise, gold falls

Get Latest News alerts.

Allow Notifications

You have already subscribed

English summary

Indias Oil Import India spending on oil imports doubled

India’s crude oil import spending nearly doubled to $119 billion in the fiscal year 2021-22.

Story first published: Monday, April 25, 2022, 16:15 [IST]

fbq('track', 'PageView');

Previous Post

MP News: Traveling in taxi-tempo, be careful, lady gang caught by police

Next Post

The mortgage fever did not subside much. Every tenth person is considering a housing loan – Seznam Zprávy

Connexionblog

Connexionblog

Related Posts

Life Insurance: People make these mistakes a lot, you should avoid them so that you can get more benefit
Business

Life Insurance: People make these mistakes a lot, you should avoid them so that you can get more benefit

by Connexionblog
June 27, 2022
Sensex में तूफानी तेजी, 620 अंक बढ़कर खुला
Business

Stormy rise in Sensex, open up 620 points

by Connexionblog
June 27, 2022
27 June : डॉलर के मुकाबले रुपया 10 पैसे मजबूत खुला
Business

June 27: Rupee opens 10 paise stronger against dollar

by Connexionblog
June 27, 2022
कमाल : ये है आज 11 फीसदी की कमाई कराने वाली सस्ती करेंसी
Business

Amazing: This is the cheapest currency earning 11 percent today, know the name

by Connexionblog
June 27, 2022
27 June : जानिए Petrol और Diesel के लेटेस्ट रेट
Business

27 June : Know the latest rates of Petrol and Diesel

by Connexionblog
June 27, 2022
Next Post
The mortgage fever did not subside much.  Every tenth person is considering a housing loan - Seznam Zprávy

The mortgage fever did not subside much. Every tenth person is considering a housing loan - Seznam Zprávy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Automobile
  • Business
  • Entertainment
  • National
  • Technology
  • World

Browse by Tags

auto news bollywood bollywood news in hindi Business car bike news celebs Connexionblog Cooking hacks Cooking Tips Cricket Czech Easy Food Recipes entertainment from the world Healthy Food hindi news inflation Instant Food recipes ipl 2022 Kitchen Tips list Madhya Pradesh News Mask Message News News24 no News24hindi Prague Recipe Of The Day Religion Reports Russia-Ukraine war Russian Seznam Snack Recipes social media sports Television Trending trending video Ukraine Video Viral Video War Zprávy

Categories

  • Automobile
  • Business
  • Entertainment
  • National
  • Technology
  • World

Browse by Tag

auto news bollywood bollywood news in hindi Business car bike news celebs Connexionblog Cooking hacks Cooking Tips Cricket Czech Easy Food Recipes entertainment from the world Healthy Food hindi news inflation Instant Food recipes ipl 2022 Kitchen Tips list Madhya Pradesh News Mask Message News News24 no News24hindi Prague Recipe Of The Day Religion Reports Russia-Ukraine war Russian Seznam Snack Recipes social media sports Television Trending trending video Ukraine Video Viral Video War Zprávy

Recent Posts

  • Comment: Nobody wants to return to the USSR except Putin. Once Enough – Message List
  • India stories 17,073 recent Covid circumstances, over 45% rise in 24 hrs
  • Alia Bhatt pregnant Ranbir Kapoor will become a father in November, know why this is being said
  • About Us

© Connexionblog 2022. All Rights Reserved.

No Result
View All Result
  • Home
  • World
  • Lifestyle
  • Business
  • Entertainment
  • Sports

© Connexionblog 2022. All Rights Reserved.