Savita Oil Technologies was India’s largest base oils importer in 2024 for a ninth year, with Apar Industries the second largest.India’s base oils imports of around 3.80 million tonnes in 2024 rose 8% from 3.50 million tonnes the previous year to the highest since 2021.The rise in imports helped meet the country’s 9% rise in lube consumption in 2024 to more than 4.50 million tonnes.Savita, whose customers include Mahindra and Johnson & Johnson, saw its base oils imports account for more than 15% of India’s total shipments in 2024, provisional customs data showed.The share was down from more than 16% of the total the previous year.Apar Industries, the world’s third-largest supplier of transformer oils, was India’s second-largest base oils importer with a share of around 12% of the total. The share was up from more than 11% the previous year.Gandhar Oil Refinery, whose customers include Procter & Gamble and Unilever, saw its share of India’s base oils imports rise to close to 11% of the total in 2024, up from less than 8% the previous year.The year-on-year increase in the specialty oil producer’s market share was the largest among all India’s base oils importers last year.ExxonMobil Lubricants’ share of India’s base oils imports saw the second-largest increase. Its share of more than 5% of India’s imports in 2024 rose from less than 3% the previous year.ExxonMobil is building a lube blending plant in India that is expected to start operations by the end of this year.India’s base oils imports are likely to face change in the coming year as the start-up of new domestic production capacity raises the prospect of cutting the country’s requirements from overseas markets.A further rise in India’s lube demand could conversely cushion the impact of rising domestic supply and sustain requirements for large volumes from overseas markets. .India’s December base oils imports slip .India’s Dec lube demand extends rise
