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Indian refiners' crude throughput declined 5.7% month-on-month in September to 5.14 million barrels per day (21.03 million metric tons), marking its lowest level since February 2024, provisional government data showed on Tuesday. Refinery throughput in August was at 5.27 million barrels per day (22.29 million metric tons). On a year-on-year basis, refinery throughput fell 0.8% in September. India's fuel consumption hit one-year low in September, slipping by half percentage point month on month to 18.63 million metric tons, oil ministry data showed on October 7. India's crude oil imports rose 1.7% in September to 19.93 million metric tons month-on-month, their highest level since June, government data showed on Monday. India is the world's third-biggest oil importer and consumer. The European Union, the UK and the U.S. have imposed a raft of sanctions against Russia over its war in Ukraine, including fresh U.S. sanctions on Thursday targeting Russia's two top oil producers Lukoil and Rosneft. The U.S. has given companies until November 21 to wind down their transactions with the Russian oil producers. Many Indian refiners have paused new orders for Russian oil since U.S. sanctions last week on Moscow's top two crude exporters as they await clarity from the government and suppliers, with some turning to the spot market for alternatives, industry sources said. Live EventsHowever, state-run Indian Oil said on Tuesday it would not stop buying Russian oil as long as it is complying with sanctions. India's state-run Bharat Petroleum Corp on Tuesday signed three agreements at an industry event, including one with Oil India OILI.NS to build a 1-trillion-rupees ($11.38 billion) greenfield refinery and petrochemical complex in Andhra Pradesh.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onIndian refiners crude throughputSeptember crude processingIndia oil importsRussian oil sanctionsBharat Petroleum greenfield refineryfuel consumption Indiacrude oil imports September 2023oil india (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onIndian refiners crude throughputSeptember crude processingIndia oil importsRussian oil sanctionsBharat Petroleum greenfield refineryfuel consumption Indiacrude oil imports September 2023oil india(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
