NEW DELHI: India exported around 56,769 TMT (thousand metric tonnes) petroleum products worth $21,406 million in 2020-21 to countries like the United Arab Emirates, Singapore, and China.
The minister of state for petroleum and natural gas Rameswar Teli in a written reply to a question in the Rajya Sabha on Monday said that the oil companies after meeting the domestic demand, export surplus production.
“Oil companies export major petroleum products viz. high-speed diesel, motor spirit, aviation turbine fuel, naphtha, etc to various countries like United Arab Emirates, Singapore, China, United States of America, Turkey, Nepal, Malaysia, Netherlands, etc,” said the minister. In 2019, oil companies exported 65685 TMT worth $35848 million.
Oil demand in India is expected to reach around 11 million barrels per day by 2045 as compared to 4.9 m barrels per day in 2021.
“World Oil Outlook 2021', flagship publication by Organisation of Petroleum Exporting Countries (OPEC), has projected that the oil demand in India is expected to reach around 11 million barrels per day by 2045.”