April 23, 2024: India’s import dependency for crude oil has been rising over the years despite domestic exploration efforts. In the absence of commercial discoveries, the domestic share in petroleum products consumed has touched a new low in the just ended FY 24. Click column Special Database for details.

April 10, 2024: The US has now emerged as the biggest exporter of liquefied natural gas (LNG) and the largest producer of crude oil, producing 21 per cent of the world’s oil. Will India benefit from the sudden US dominance in crude and LNG? India is already sourcing both crude and LNG from the US but in limited quantities. US crude falls in the category of West Texas Intermediate (WTI) which has a sulphur content of 0.24%, making it very "sweet." Judging by the types of crude being used in India, high sulphur/low sulphur crude ratio is 78% HS / 22% LS. India’s low sulphur crude imports account for only 23 million tons – or less than 10 per cent of import. The US crudes will have to fit into that tiny sliver of 10 per cent. Click Free Access column Petro Intelligence to read a comprehensive piece on the subject.