Raj Petro India’s largest May importer

Raj Petro Specialities was India’s largest base oils importer in May for the first time in more than a year.

The lubricant blender’s imports accounted for some 12pc of India’s total imports of more than 330,000t in May, according to provisional customs data.

The blender is typically one of India’s top five largest base oil importers. The last time it was the largest was in March 2021.

It displaced Savita Oil Technologies, which had been India’s largest base oil importer for five straight months to April.

India’s other largest base oil importers typically include Gandhar Oil Refinery and Apar Industries.

State-owned Indian Oil Corp was India’s sixth-largest base oil importer in May. The company is a less regular importer, with no shipments during the previous three months.

The country’s top four importers typically account for around 40pc of India’s total base oil imports.

Those imports fell in May to a four-month low amid a drop in arbitrage cargoes from the US and a slowdown in shipments from South Korea.