April 20, 2018 / 1:36 PM / a month ago

Reliance's March oil imports up 3.4 percent from February

NEW DELHI (Reuters) - India’s Reliance Industries, owner of the world’s biggest refining complex, imported 3.4 percent more oil in March from the previous month, according to data from shipping and industry sources.

Labourers work behind an advertisement of Reliance Industries Limited at a construction site in Mumbai, India, March 2, 2016. REUTERS/Shailesh Andrade/Files

The imports in March at 1.31 million barrels per day were 7.6 percent less compared with a year earlier, the data showed. Reliance received its first parcel of Ghana’s Sankofa oil in March, the data showed.

Reliance shipped in about 19 percent of its imports from dated Brent-linked African grades in March compared with about 10 percent a year ago, the data showed.

The share of Latin American oil in its overall purchases, however, declined to about 20 percent from about 39 percent a year ago, while oil imports from the Middle East surged to about 60 percent from 46 percent.

Reporting by Nidhi Verma, Editing by Sherry Jacob-Phillips

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