India's crude oil imports rise 6.4% amid falling domestic production

24 Sep 2024 CW Team

India's reliance on imported crude oil intensified in August, with a notable increase of 6.4% compared to the same month the previous year. In contrast, domestic oil production decreased by 2.9%, as reported by the Petroleum Planning & Analysis Cell (PPAC) under the Ministry of Petroleum & Natural Gas. This trend highlights the growing pressures on India's energy security amid rising global oil prices.

The report revealed that the total net import bill for oil and gas rose to $11.4 billion in August 2024, up from $9.0 billion in August 2023. The primary drivers of this increase were higher imports of liquefied petroleum gas (LPG), petcoke, and lubricants. During the April-August period of FY 2024-25, crude oil imports also experienced a 3.3% rise, indicating a growing demand as the economy recovers.

On the domestic front, oil and gas production encountered challenges, with Oil India (OIL) and Oil and Natural Gas Corporation (ONGC) reporting lower outputs. This resulted in a 2.9% decrease in indigenous crude oil and condensate production for August 2024. This decline reflects an on-going struggle to enhance domestic output, which is essential for decreasing dependence on unstable global markets.

The refining sector mirrored this downturn, showing a 1.9% decrease in total crude oil processed in August 2024 compared to the previous year. However, despite this monthly decline, the sector recorded a slight 1% increase in processed crude from April to August 2024 compared to the same period last year, suggesting a tentative recovery in refining operations.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..