How to Export Petroleum Products from India
The petroleum products exported from India amounted to approximately 42 million metric tons during fiscal year 2021, down from about 66 million metric tons in the previous fiscal year. It is traded under HS code: 2710. The south Asian country is the second largest refiner in Asia second only to China.
United States is now the largest oil-exporting nation in the world. Oil production in the country primarily came from the onshore states of Rajasthan, Gujarat and Assam primarily. These states accounted for a share of over 96 percent in the total onshore production.
Petroleum, also known as crude oil and oil, is a naturally occurring, yellowish-black liquid found in geological formations beneath the Earth's surface. It is commonly refined into various types of fuels. Components of petroleum are separated using a technique called fractional distillation, i.e., separation of a liquid mixture into fractions differing in boiling point by means of distillation, typically using a fractionating column.
It consists of naturally occurring hydrocarbons of various molecular weights and may contain miscellaneous organic compounds.[1] The name petroleum covers both naturally occurring unprocessed crude oil and petroleum products that are made up of refined crude oil. A fossil fuel, petroleum is formed when large quantities of dead organisms, mostly zooplankton and algae, are buried underneath sedimentary rock and subjected to both intense heat and pressure.
Top Exporting Countries of Petroleum Products:
The top 10 exporters of Petroleum Products in 2020 were:
• United States
• Saudi Arabia
• Russia
• Canada
• China
• Iraq
• United Arab Emirates
• Brazil
• Iran
• Kuwait
Top Importing Countries of Petroleum Products from India:
• Iraq
• Saudi Arabia
• United Arab Emirates
• Nigeria
Exporting of Petroleum Products Mainly Covers:
• Superior Kerosene Oil
• High Speed Diesel
• Light Diesel Oil
• Light Diesel Oil
• Liquefied Petroleum Gas (LPG) fuel oil.
• Asphalt (mainly used in asphalt concrete)
• Paraffin wax.
• Tar.
Documents required Exporting Petroleum Products
• Air Waybill
• Bill of Lading
• Certificate of Conformity
• Certificate of Origin
• Commercial Invoice
• Dock/Warehouse Receipt
• Export License
• Export Packing List
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