MACHINERY LUBRICATION- INDIA SEPTEMBER-OCTOBER 2019 | Page 46

BASE OIL REPORT BASE OIL REPORT India witnessed the highest increase in crude oil imports in the first four months (April-July) of the current fiscal year 2019-20 (FY20) from the US. India’s crude oil imports from the US tripled to 3.60 million tonne (MT) in the period from 1.15 MT recorded in the corresponding period a year ago. A bulk of crude oil shipments from the US was received by Reliance Industries port located in Jamnagar’s special economic zone (SEZ). India’s crude oil imports from Iraq increased 3 per cent to 16.05 MT in April- July of FY20. Nayara Energy-owned Vadinar Port was the second-largest receiver of Iraqi crude oil shipments in first four months of FY20, handling close to 3.08 MT of crude oil during the period. However, the port’s shipments of Iraqi crude declined 16.30 per cent during first four months of the current financial year, as compared to the corresponding period a year ago. India’s crude oil imports from Saudi Arabia increased 5.61 per cent to 13.34 MT in first four months of FY20. The Indian domestic market Korean origin Group II plus N-60–70/150/500 price at the current level is marginally down for lighter grades and heavier grades. As per conversation with domestic importers and traders prices for N – 70/ N- 150/ N - 500 grades and at the current level are quoted in the range of Rs. 44.75 – 44.90/45.30 – 45.45/50.75 – 50.90 per liter in bulk plus 18% GST as applicable. Discounts being Month wise input of Base Oil in India offered for sizeable quantity. While in the month of July 2019, India imported 262,969 MT of Base Oil, India imported the huge quantum in small shipments on different ports like 151504 MT (58%) into Mumbai, 34385 MT (13%) into Chennai, 26742 MT (10%) into JNPT, 15012 MT (6%) into Kolkata, 11266 MT (4%) into Hazira, 8567 MT (3%) into Pipavav, 8222 MT (3%) into Kandla, 5017 MT (2%) into Mundra, 1676 MT (1%) into Ennore and 576 MT into Other Ports. Dhiren Shah (Editor – In – Chief of Petrosil Group) E-mail- [email protected] Origin wise Base Oil input to India, Country and %- July 2019 Base Oil Group I & Group II CFR India prices:- Month July 2019 August 2019 September 2019 Group I - SN 150 Iran Origin Base Oil CFR India Prices USD 595 – 605 PMT USD 580 – 590 PMT USD 570 – 580 PMT Since July 2019, prices have decrease by USD 25 PMT (4%) in September 2019. 44 | September - October 2019 | Rubber Process Oil (Aromatic Extract) (Drums) Iran Origin CFR India Prices USD 695 – 705 PMT USD 640 - 650 PMT USD 375 – 380 PMT USD 680 – 690 PMT USD 625 - 635 PMT USD 360 - 365 PMT USD 670 - 680 PMT USD 615 - 625 PMT USD 350 - 355 PMT Since July 2019, prices have Since July 2019, prices have Since July 2019, prices fall down by USD 25 PMT decrease by USD 25 PMT have dipped down by (4%) in September 2019. (4%) in September 2019. USD 25 PMT (7%) in September 2019. Napthenic Base Oil HYGOLD L 2000 US Origin CFR India Prices www.machinerylubricationindia.com N- 70 South Korea Origin Base Oil CFR India Prices