IndiaMinistry of Petroleum & Natural Gas

Covid-19 Effect on Import of Oil

Oil and gas sector PSUs have informed that COVID 19 pandemic has resulted in unprecedented fall in demand which in-turn has reduced revenue consequent to lockdown imposed in the country.

Consumption of all petroleum products has increased as the country is going towards unlock process. Month-wise consumption of petroleum products and Import of crude oil are given below:

Total Consumption of petroleum products (in MMT) April, 2020 May, 2020 June, 2020 July, 2020
9.89 14.63 16.25 15.68
Imports of crude oil (MMT) 16.55 14.61 13.68 12.34

Note: Data on import of oil and Consumption of Petroleum products is provisional basis;

The sector-wise sale of Natural Gas in Million Metric Standard Cubic Meter Per Day (MMSCMD) in India during Financial Year 2019-2020 and April-July 2020 is as below:

Sector 2019-20 April-July 2020
Domestic RLNG Total Domestic RLNG Total
Power 20.09 10.10 30.19 23.43 7.25 30.68
Fertilizers 17.81 26.06 43.87 20.83 27.61 48.44
CGD 16.00 12.69 28.69 7.81 8.39 16.20
Others 14.44 35.98 50.42 21.07 33.87 54.93
Total 68.34 84.83 153.17 73.14 77.11 150.25

Note: The above does not include natural gas consumed as internal consumption of upstream producers (which is in the range of 17-19 MMSCMD).

Due to the Covid-19 Outbreak throughout and world and nationwide lockdown imposed in the country, Indian refineries were operating with reduced capacity.

The details of revenue generated during period April-June 2020 vis-a-vis April-June 2019 is given below

                                                               (in Rs. Crore)

S.No Name of the Public Sector Company April-June of 2020 April-June 2019
1. IOCL 88936.54 150136.70
2. HPCL 45,885 74,530
3. BPCL 50616.92 85,859.59
4. GAIL 12,060 18,276

This information was given by the Union Minister of Petroleum & Natural Gas Shri  Dharmendra Pradhan in the Lok Sabha today in a written reply.

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