dia’s Crude Oil Imports: Import Trends, HS Codes & Major Buyers
- Kanika Sethi
- Nov 18
- 4 min read
Were you aware? India imports a massive share of its crude oil from around the world due to its limited domestic production capacity. As one of the fastest-growing major economies, India’s energy consumption continues to rise sharply each year. By 2035, India is expected to account for twice as much primary energy demand as the global average, making it a major player in the international oil market.
In this blog, we explore India’s crude oil import, crude oil import in India, India oil imports by country, top crude oil suppliers, and the largest importers of crude oil globally. You’ll also find insights into the top 10 crude oil supplier to India, India crude oil imports country wise, Indian oil imports country wise, and how businesses can use reliable import data platforms like Exportimportdata.in to access updated market intelligence.
Crude Oil Import Data: 2024–25
In FY 2024–25, India’s crude oil imports increased by 4.2%, reaching 242.4 million tonnes (MT). Import dependence also rose slightly, with dependency touching 89.1% in March 2025, compared to 88.6% a year before.This highlights India’s growing reliance on external crude oil suppliers to meet domestic demand.
Crude Oil Import Data: 2023–24
During FY 2023–24, India imported 232.5 MMT of crude oil—almost identical to the 232.7 MMT recorded in the previous fiscal year. Despite consistent volume, fluctuations in global energy prices affected the overall import bill.
Top 5 Oil Suppliers to India (by Value)
Here is the list of the top 5 oil supplier to India and India’s top oil import countries, based on recent trade values:
Iraq – $37.1B
Saudi Arabia – $32.7B
Russia – $25.5B
United Arab Emirates – $14.8B
United States – $10.8B
These countries collectively dominate India crude oil imports by country, supplying the bulk of the nation’s energy needs.
Leading Crude Oil HS Codes
Here are the major HS codes for crude oil traded globally:
2707 – Oils & products from high-temperature coal tar distillation
27079100 – Creosote oils
2709 – Petroleum oils and oils obtained from bituminous minerals, crude
2710 – Petroleum oils (other than crude) & preparations
27101990 – Other petroleum oils
27101980 – Lubricating oil
Crude oil also falls under HS Code 1515110000.
For updated HS code-wise import data, transportation costs, and shipment insights, platforms like Exportimportdata.in offer verified data for importers, exporters, and analysts.
Top 10 Crude Oil Importing Countries in the World
India is one of the largest importers of crude oil, but globally, several countries surpass India in total import volumes. Below is the list of the largest oil importer in the world and other major importers:
China
Europe
United States
Other Asia Pacific
India
Japan
Singapore
Canada
South & Central America
Other CIS
China leads as the largest oil importer in the world, while India ranks fifth, reflecting its rising energy needs.
India’s Top Crude Oil Importers
Here is the list of the top crude oil importers in India who refine, process, and distribute petroleum products on a large scale:
1. Rosneft-Backed Nayara Energy
One of Asia’s key refiners and the second-largest private refinery in India, operating over 6,000 retail fuel outlets.
2. Reliance Industries Limited (RIL)
Home to the world’s largest integrated refinery in Jamnagar, capable of processing 1.4 million barrels/day.
3. Indian Oil Corporation (IOC)
A government-owned oil & gas giant distributing products like diesel, LPG, jet fuel, and lubricants across India.
4. Bharat Petroleum Corporation Limited (BPCL)
A major player with operations spanning refining, industrial & commercial fuels, Bharatgas, MAK lubricants, and more.
5. Hindustan Petroleum Corporation Limited (HPCL)
Runs two major refineries in Mumbai and Visakhapatnam with a combined capacity of 17.8 MMT per year.
6. Oil and Natural Gas Corporation (ONGC)
India’s largest state-owned oil & gas explorer, producing over 70% of domestic crude oil.
7. Bharat Oman Refinery Limited (BORL)
Processes 7.8 MTPA of crude oil along with hydrocracker, diesel hydrotreater, and delayed coker units.
8. Chennai Petroleum Corporation Limited (CPCL)
Engaged in refining crude oil and manufacturing lubricants, additives, and various petroleum products.
9. Adani Welspun Exploration Limited (AWEL)
A joint venture focusing on upstream oil & gas exploration and production.
10. Tata Petrodyne Limited (TPL)
An E&P company expanding India’s footprint in crude oil and natural gas exploration.
These companies are crucial to India crude oil imports country wise trade and the national energy supply chain.
How to Find India’s Largest Importers of Crude Oil
To locate verified Indian buyers and suppliers of crude oil, you can use data-driven tools such as Exportimportdata.in, which provides:
India crude oil import data
Indian oil imports country wise breakdown
Shipment-level details
Importer & supplier contact lists
Pricing trends and port-wise analysis
With data from 100+ countries, the platform offers one of the best global trade intelligence dashboards.
Final Remarks
India’s rising crude oil demand continues to shape both local and global energy markets. As India remains one of the largest importers of crude oil, strategic sourcing, competitive pricing, and reliable long-term partnerships with suppliers are essential for smooth operations. Businesses must stay updated on India oil imports by country, monitor global market shifts, and use accurate trade databases to make informed decisions.
If you need access to India’s crude oil import data, top 10 crude oil supplier to India, or crude oil importers in India, contact the Exportimportdata.in team today for a free live demo and market insights.
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