Best answer: Who imports crude oil in India?

Rank Country Import value
1 Iraq $19.3 billion
2 Saudi Arabia $18.4 billion
3 Nigeria $9.34 billion
4 United Arab Emirates $7.82 billion

Where does India import its crude oil from?

Traditionally, Opec+ and Saudi Arabia have been India’s mainstay suppliers, accounting for 86% of Indian oil imports. India’s oil import bill in FY20 and FY19 was $101.4 billion and $111.9 billion, respectively.

Who is the largest importer of crude oil?

Searchable List of crude oil Importing Countries in 2020

Rank Importer 2019-20
1. China -26.1%
2. United States -38.3%
3. India -36.7%
4. South Korea -36.7%

Which country is the largest exporter of oil to India?

India imported 8 million tonnes of crude oil from Mexico and one million tonnes from Canada. Kuwait supplied 9.9 million tonnes. Iraq has been India’s top supplier for the past few years, staying ahead of Saudi Arabia, which has been producing less than its capacity to meet OPEC supply curb commitments.

Does India have crude oil?

India holds 4,728,790,000 barrels of proven oil reserves as of 2016, ranking 24th in the world and accounting for about 0.3% of the world’s total oil reserves of 1,650,585,140,000 barrels. India has proven reserves equivalent to 2.9 times its annual consumption.

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Which state is the largest producer of oil in India?

Complete answer: The three largest producers of mineral oil or crude oil in India are Rajasthan (23.7%), Gujarat (12.5%), Assam (12.1%). Among these three states Assam is the largest producer of mineral oil in India.

Which country is most dependent on imported oil?

The economies that depend on oil

Countries where fuel accounts for more than 90% of total exports include Algeria, Azerbaijan, Brunei Darussalam, Iraq, Kuwait, Libya, Sudan and Venezuela. For an idea of which economies rely most heavily on oil, this chart using 2012 World Bank data shows oil revenue as a share of GDP.

How much oil is left in the world?

The Organization for Petroleum Exporting Countries reports that there are 1.5 trillion barrels of crude oil reserves left in the world. These are proven reserves that are still capable of being extracted by commercial drilling.