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India’s Reliance cuts Aug oil imports 8.7% vs July

India’s Reliance cuts Aug oil imports 8.7% vs July

NEW DELHI: India’s Reliance Industries, owner of the world’s largest refining complex, imported 8.7 percent less oil in August compared with the previous month, ship tracking data made available to Thomson Reuters showed. The imports were 1.1 percent more than a year earlier, the data showed. In the first seven months of 2017, the private refiner shipped in 4.8 percent more oil than a year earlier.

The share of Latin American oil in Reliance’s overall imports declined to about 28 percent in August from about 33 percent a year ago, while that from Africa rose to 22 percent from about 8.2 percent, the data showed. The private refiner’s intake of Middle Eastern oil in August declined to about 48 percent from 59 percent, the data showed.