India’s Reliance Industries Ltd, owner of the world’s biggest refining complex, imported 6.8% less oil in May than a year ago, according to data from shipping and industry sources. The sources declined to be identified as they were not authorised to speak with the media.
The refiner imported about 1.18 million barrels per day (bpd) of oil in May, a decline of about 21.5% from the previous month, the data showed, ahead of planned maintenance shutdown of the some units at its 660,000 bpd refinery.
The private refiner shipped in about 11% from Latin America in May, compared with about 29% a year ago, while the share of Middle East grades in its overall purchases declined to 61% from about 63%.
The share of African grades in its overall purchases rose to about 13% in May from about 8%. Oil from the U.S. accounted for about 15% of the imports by Reliance in May, the data showed. Read More