Savita Oil Technologies was India’s largest base oils importer in October for a fifth month as it continued to expand its share of the country’s supplies.The blender’s share of India’s base oils imports came to more than 15pc of the total in October, provisional customs data showed.The share was down from an unusually high level of more than 20pc in September. It was higher than its share of more than 14pc of India’s total imports in the first 10 months of the year..Its share of imports so far this year far exceeded last year’s level of little more than 10pc of the total.The rising share of imports reflected its more-than 10pc increase in import volumes in the first 10 months of the year even as India’s total base oils imports fell during that period. India’s base oils imports of more than 280,000t in October were the highest in three months. They still fell from year-earlier levels for the sixth time in seven months..India’s October base oil imports edge up.Raw materials accounted for more than 85pc of Savita Oil’s costs in the third calendar quarter of the year.Higher regional base oils prices and the depreciation of India’s currency versus the US dollar compounded the effect of higher import volumes.Gandhar Oil Refinery was India’s second-largest base oils importer in October. Its share of imports was steady just above 14pc of the total volume.Apar Industries was the country’s third-largest importer in October with its share rising to just below 10pc of the total. The blender was the country’s largest importer of naphthenic base oils.Bhuvi Petroleum was India’s fourth-largest base oils importer in October. Its share of imports rose to close to 8pc of the total, from less than 1pc in September. Very-light grade supplies accounted for most of its imports.India’s base oils imports market consists of a much larger number of companies than other markets like Pakistan and Vietnam. The largest importers are also domestic companies rather than well-known overseas brands.
