New Delhi
India has steadily increased its exports of refined fuel to Europe since the Russia-Ukraine war. After the European Union imposed sanctions on oil purchases from Russia, India has boosted its export potential by emerging as a major exporter of refined oil products to Europe.
Record export in November
Refined fuel exports from India to Europe reached 400,000 barrels per day (bpd) in November 2024, an all-time high, according to Kpler data. The number was updated on November 8 and will be revised again at the end of the month. Earlier in October, India exported 335,000 barrels per day of refined fuel to Europe, which was 59% more than in September.
India’s refined fuel exports are particularly up this time as Saudi Arabia’s Yanbu refinery will be closed for maintenance in November and December. Due to this, the export of refined fuel from Saudi Arabia to Europe will reduce and the demand for export of diesel from India is likely to increase.
To become India’s leading exporter
India’s Reliance Jamnagar Refinery, a major producer of refined oil products, has played a key role in increased exports to Europe. Reliance’s refinery is expected to export 335,000 barrels per day in October and 440,000 barrels per day in November.
Demand increased due to closure of refinery
Maintenance of refineries in Europe has led to a reduction in production, limiting the supply of refined oil products to Europe. Also, due to increase in diesel consumption during winter season, India’s exports have increased further. India mainly exports diesel and jet fuel to Europe.
India’s export data
Let us tell you that in the first 10 months of 2024-25, India’s fuel export to Europe was 2,551 thousand barrels per day (KBD), whereas in the same period last year this figure was 2,672 KBD. In 2022, this figure was 1,459 KBD, which has now increased significantly.
Export from India to Europe
India exported 238,000 bpd diesel and 81,000 bpd jet fuel to Europe in October, while in September these figures were 79,000 bpd diesel and 131,000 bpd jet fuel respectively. Finally, let us tell you that India’s refined fuel exports have currently become an important source for Europe, and these exports are likely to increase further in the coming months.
