Indian refiners processed a total of 22.3 million metric tonnes (MMT) in November, 2.3% higher than the comparable period last year, according to data from the Petroleum Planning and Analysis Cell (PPAC).

Of the total share, state-owned refiners (standalone and in joint ventures) processed a total of 15.1 MMT whilst privately-owned peers 7.3 MMT of crude oil. Additionally, 2.1 MMT of the crude oil processed was indigenously produced and 20.2 MMT of the quantum constituted imported crude oil.

Also read: Oil India trims production guidance, expects 3.55 MMT crude oil production in current year

Indigenous crude oil and condensate production registered a degrowth of 2.6% from the comparable period last year to 2.3 MMT in November.

Total imports rose 11.1% YoY during the same period. On a year-to-date basis, overall crude oil imports have increased 2.4%.

Poignantly, India’s crude basket averaged $64.31 per barrel in November, compared to $65.08 per barrel.