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.