Africa’s share in India’s oil imports hits 7-month high: Report

NEW DELHI: Africa’s share in India’s oil imports surged to a seven-month high in April as refiners boosted purchases from small regional players such as Ghana and Congo on better economics and less competition from China, data obtained from sources showed.
The share of African oil in India’s crude imports rose to 16.3% in April, the data showed.
Overall, India’s oil imports in April declined 3.7% from the previous month as state-run Hindustan Petroleum Corp did not receive oil for its Mumbai refinery, which was fully shut for revamp.
Refiners shipped in about 4.2 million barrels per day (bpd) oil in April, a decline of about 8.7% from the same month last year.
Compared to last year, Indian refiners cut intake of long-haul oil from Latin America, the United States and Canada, and raised imports from Kuwait.
Higher purchases from Kuwait raised the share of Middle Eastern oil to about…

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