According to data from the Petroleum Planning and Analysis Cell (PPAC), India’s petroleum product exports decreased 8.6% year over year to $23.2 billion between April and October of FY26 from $25.4 billion during the same period the previous year. But in terms of volume, exports stayed mostly steady at 37 million tons over that time.
Compared to $13.8 billion from April to October of FY25, imports of refined oil products totaled $13.9 billion for the seven months. 29.8 million tons of petroleum products were imported by the nation, a 1% increase over the same time prior fiscal year.
India’s petroleum product exports fell by 21% from 1.58 million barrels per day in September to 1.25 million barrels per day in October, according to Kpler. However, from 1.22 mbd in October 2024, exports rose by 2.4% annually.
The leading markets for the nation’s refined oil products were found to be Singapore, the Netherlands, and the United Arab Emirates. While shipments to the Netherlands rose by up to 255% to 156,000 bpd from 44,000 bpd in September, exports to the UAE fell 27% to 132,000 bpd last month. Last month, exports to Singapore increased by 81% to 113,000 bpd.
Although Nayara Energy’s operations are steadily improving, the company still has difficulties with exports as a result of disruptions brought on by international sanctions.
Kpler saw increased Russian crude arrivals before the deadline following the sanctions, which went into effect on November 21, 2025. After that, no refiner other than Nayara was anticipated to purchase from sanctioned suppliers.
In the first seven months of FY26, India consumed 139 million tons of petroleum products, a little increase of 1.2% over the previous year. The nation’s domestic demand for petroleum products is expected to hit a record 252.9 million tonnes in FY26.
