Indian Petroleum Industry
Indian petroleum industry has more than hundred year rich history and witness of many technological changes during this remarkable journey. The rich history of Indian petroleum industry started in 1889 under the British rule in Digboi, Assam and after that it is continuously growing. When we talk about Indian petroleum industry it includes exploration, extraction, refining, transporting and marketing of petroleum products across the globe. As far as Indian export economy is concern oil-based products has supported the economy to a large extent. We at Lodha Petro leading exporter of petroleum products in India explains the export scenario in this blog post for petroleum products.
Export Scenario of Petroleum Products
Petroleum products are the number one commodity exported from India in last financial year before jewellery, automobile and machinery. We are hugely depended on crude oil import however petroleum products is the number one revenue generator from export. We have tough competition from china for petroleum product export in recent past still our growth is remarkable. India is considering the major market leader for petroleum product export in south Asia.
Products Exported from India
Worldwide there is a huge demand for the refined petroleum products and India becomes the hub for export in recent past. The quality of Indian petroleum products is better compare to other country including china and hence the export from India is increased. The export of petroleum products from India is increased by almost 11 percent in the current financial year. There are so many petroleum products which is exported from India including White Oil & Liquid Paraffin, Paraffin Wax, Rubber Processing Oil, White Petroleum Jelly cutting fluids, greases, hydraulic oils, Transformer Oil and other byproducts.
We at Lodha petro is flag-bearer of Indian petroleum industry with our numerous quality products. We have seen tremendous growth since our inception and established strong clientele in Europe, Middle East, Africa and other part of the world.
Petroleum Products Exports from India
Indian petroleum export industry is getting bigger and bigger day by day. Indiaâ€™s geographical location makes it the prominent player in petroleum product exports. We are major player for petroleum products as far as Asia is concern because we are located between producers in the Middle East and consumers in the rest of Asia. Petroleum products are the second largest commodity exported from India which means it plays a vital role in Indian economy. We at Lodha Petro â€“ a leading petroleum products exporter in India help you to understand export scenario of petroleum products.
Petroleum Products Export
To understand the impact of any commodity on economy we have to take at least last five year data. As far as petroleum products export is concern the last five years were roller coaster ride due to various global parameters. Whether it is change in demand or political tensions between two nations the most affected commodity is petroleum products. It is noticed that petroleum products exports from India have a consistent growth in last five year. The Ministry Of Petroleum and Natural Gas, India releases the data every year and the growth in last five year is almost 400 percent. Although it includes natural gas however the lubricant and other petroleum products export is also increased. The financial year 2014-15 was not that great as far petroleum products exports from India is concern and the growth was around 10% . The next financial year covered the last year growth and the petroleum products export increased by 100 percent. The last financial year also seen slow but steady growth of 6% which is very good due to various global reasons. We have completed first quarter of current financial year and trends seem good.
Petroleum Product who is ruler in exports
There are lots of petroleum products exported from India over the year however few of them really seen exponential growth. The major products who have seen more than 100 percent growths are Unfinished Oils, Fuel Ethanol (Renewable), Residual Fuel Oil
Petroleum Coke and lubricant oils.
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