Indian blender Savita Oil Technologies was the country’s largest base oils importer in 2023 for at least a fourth straight year, with Apar Industries the second largest.
Savita, whose customers include Mahindra and Johnson & Johnson, accounted for more than 16pc of India’s base oils imports in 2023, provisional customs data showed.
The share rose from less than 15pc the previous year and less than 11pc in 2021.
India’s base oils imports of 3.50mn t in 2023 fell by 5pc from 3.66mn t the previous year.
Imports of very-light grade base oils accounted for more than 35pc of the volume.
Savita’s base oils imports rose by 7pc in 2023, with very light grades accounting for more than 50pc of the total.
Apar Industries, the world’s third-largest supplier of transformer oils, was India’s second-largest base oils importer with a share of more than 11pc of the total.
The share rose from less than 9pc in 2022, when Apar was the country’s fourth-largest importer.
Like Savita, its total base oils import volume also rose in 2023 from the previous year.
Raj Petro Specialities was India’s third-largest importer with a share of more than 7pc of the total. The share slipped from more than 9pc in 2023, while its total import volume also fell.
Gandhar Oil Refinery was India’s fourth-largest importer in 2023, Panama Petrochem the fifth largest and Castrol India the sixth largest.