Why in the News?
India’s crude oil import volume declined in April 2026, but the import bill rose sharply due to soaring global energy prices amid the continuing Strait of Hormuz crisis.
Key Highlights
Crude Oil Imports
- Import volume:
- Fell 4.3%
- From 21 MMT to 20.1 MMT
Import Bill
- Increased nearly 50%
- Rose from:
- $10.7 billion to $16.3 billion
Main Reason
- Rising crude oil prices due to:
- West Asia conflict
- Disruptions around the Strait of Hormuz
LNG Imports and Consumption
LNG Imports
- Declined nearly 30%
- Fell from: 2,778 MMSCM to 1,954 MMSCM
LNG Import Bill
- Declined from $1.2 billion to $0.9 billion
Natural Gas Situation
Consumption
- Fell 16.7%
- Lower industrial and energy demand contributed to the decline.
Domestic Production
- Net natural gas production declined:
- By 4.2%
LPG Consumption
Sales of LPG declined:
- By 12.7%
- Commercial establishments received only 70% of pre-crisis allocation.
Overall Oil and Gas Import Bill
- Net oil and gas import bill increased:
- By 23%
- To $13.9 billion
About PPAC
Petroleum Planning and Analysis Cell
- Attached office of the Ministry of Petroleum and Natural Gas.
- Provides data and analysis on India’s petroleum sector.
[2020] The term ‘West Texas Intermediate’, sometimes found in the news, refers to a grade of:
(a) Crude oil
(b) Bullion
(c) Rare earth elements
(d) Uranium
