Savita India’s largest base oils importer

Savita Oil Technologies was India’s largest base oils importer in July for the seventh time in eight months even as its share of total imports fell.

The blender’s base oils imports accounted for more than 11pc of India’s total shipments in July, provisional customs data showed.

The share was down from more than 17pc the previous month and closer to more typical monthly levels. It was still the smallest share since March.

India’s total base oils imports have been more mixed in recent months amid a slump in shipments of very-light grade base oils.

But demand for Group II and Group III base oils has continued to rise, even during the monsoon season.

Raj Petro Specialities was India’s second-largest base oils importer in July, with a share of more than 10pc of total shipments. The share was up from less than 9pc the previous month.

Bhuvi Petroleum was the third-largest importer in July. Its share of more than 10pc jumped from less than 4pc in June.

The relatively similar share of shipments amongst India’s largest importers reflected a more diverse dynamic compared with other markets in Asia-Pacific.

India’s five largest importers typically account for less than 50pc of the country’s total monthly base oils imports.

By contrast, Vietnam’s four largest base oils importers typically account for 50-60pc of the country’s monthly imports.

In Pakistan, the four largest base oils importers typically account for more than 75pc of total imports.