Lubricant, chemical, medical equipment
Organic and inorganic chemicals, petrochemicals, solvent, fertilizers, crops and grains, metal scraps
Wheat, rice, sugar, bitumen
Bitumen, wax, lentil
Stone, HY deformed bar, HY wire/strand, bitumen, thermoplastic material, expansion joint, bridge bearing
Crude oil, iron & steel, wood logs, plants & machinery, electronics
Wheat, chickpeas, lentil, MBM, soybean extraction, bitumen
Bitumen, industrial chemical, milk powder
Base oil, methanol, paraffin wax, slack wax, acetic acid, hdpe flakes, plastic scrap
Waste pet bottle plastic chips, jute handicraft, handmade terracotta clay tiles, waste tyre carbon black
Methylene chloride, aniline oil, refined naphthalene, propylene glycol, dimethyl formamide, dimethyl carbonate, isopropyl alcohol, glacial acetic acid, n butyl acetate, acetic ether
Zrconium siicate,quartz,zinc oxide, kaolin, ball clay,wallastonite, barium carbonate, soda feldspar, potash feldspar, dolomite, talc, calcium carbonate, alumina, color stains, body binder (bentonite), stpp body, stpp glaze etc
Polyacrylamide, polyelectrolyte, partially hydrolyzed polyacrylamide, phpa for eor and drilling in oil field, bwd 01 water decoloring agent, for color removal for effluent from textile industries and dye stuff plants, polyaluminum chloride
Lng, lpg, crude oil, copper, coal, rice, food supplies, wood, hotel supplies
Vehicle service equipment, parts, oil lubricants
Yellow corn gmo and non-gmo, wheat soybean and soybean meal, sugar. all kinds of bitumen.
Oxidized bitumen 115/15 80/100, cutback bitumen mc rc, bitumen emulsion css1h, damp proof coating, bitumen primer d41, bitumen paints and asphalt for road pavement, modified bitumen, waterproofing membrane app & sbs membrane, oxidized membrane.
L.p. Gas, Gast Stove, Electric Auto Spare Parts.
Textile Auxiliaries, Textile Lubricants, Anionic And Nonionic Surfactant
Mechanical equipment, electric equipment, gas equipment, machinery, power plant equipment, marine equipment
A yellowish-black liquid chemical mixture found in geological formations is what can be called petroleum. It consists mainly of hydrocarbons. It is a broad term that covers various unrefined and refined products, such as gasoline, jet fuel, diesel, heating oil, etc. The plants and animals that lived millions of years ago in marine environments died and sank to the seafloor, which led to the organic material getting mixed with other sediments. It remains under high pressure and temperature for decades and then transforms into what we know today as fossil fuels. That is how petroleum is found beneath land or the ocean floor. These petroleum reservoirs are then put into multiple uses, such as using them as a fuel to power vehicles, machines, and heating units. It can also be converted into plastics.
Petroleum products are materials that have been derived from crude oil and are processed in oil refineries. They are complex mixtures that are mainly used as energy carriers. These have various applications, ranging from being used as transportation fuels to acting as a lubricating oil while constructing roads. They also act as feedstocks for making plastics, chemicals, and synthetic materials.
It is believed that petroleum was discovered in 1859 in Titusville, Pennsylvania, by Edwin Drake. It was then recovered by oil drilling and then refined and separated into different forms of fuels. It is also essential that while petroleum was found later, oil was still very much used in various forms in China.
As the majority of the world relies on petroleum for various goods and services, the trading industry of petroleum and petroleum products has a major influence on world politics and the global economy. Some of the largest companies in the world are involved in the petroleum industry, either in the extraction of petroleum or processing it to create petroleum-based products - plastics, fertilizers, airplanes, automobiles, and others. These petroleum companies are divided into three categories - upstream, midstream, and downstream, depending on the company’s position in the supply chain.
That being said, these three types of petroleum companies work together to meet the oil needs of consumers, which can be as high as 53% for the Middle Eastern countries. Historically speaking, petroleum products have been the most-consumed energy source in the US. Some data shows that in 2023, the US consumed approximately 7.4 billion barrels of petroleum products. The exact percentage of various types of petroleum products that the US consumed is as follows:
This means exporters can benefit a lot if they make exporting petroleum and its related products to the US their priority. To meet consumer demands, buyers from many manufacturing units and industrial sectors engage in global trading. This high demand can sometimes increase the petroleum products price. As an exporter, knowing those reasons can help you decide your next move and be prepared for the future, so that price changes do not affect your exporting business.
When you’re exporting petroleum by products, it means you have to be involved in ensuring that your products’ quality matches with what the global buyers usually seek. Meeting those standards will allow you not only to ensure smoother trade but also build trust amongst the petroleum products importers. A few of those quality standards are as follows:
After identifying which petroleum by-products are most demanded in the international markets, you can diversify your export products by including a variety of these products. Expanding your range not only increases market reach but also creates help in various sectors like renewable energy and advanced manufacturing. Below is a selection of petroleum derivatives you might consider exporting:
When you want to work in the global trade industry and succeed, you need to understand that you will be facing a lot of competitions in the market. Having some unique information about the global market demand and targeting the top importing countries of petroleum products can help you a lot. Therefore, below are some of the crucial information which would help you connect with different types of petroleum by product buyers (fuel oil buyers, gasoline buyers, jet fuel buyers, and others):
Global Market Size for Refined Petroleum Products
Source: Market Research Future
Top Importing Countries for Used Tyres (2024):
Source: Volza
Finding trusted petroleum products buyers requires a strategic approach combined with effective ways of doing so. Hence, here are a few ways you can use to connect with the most reliable buyers across countries:
1. Who is the largest importer of petroleum products in the world?
Ukraine, Russia, and Vietnam are the largest importers of petroleum products in the world.
2. What are the most exported products of petroleum?
Diesel (High-Speed Diesel), motor spirit (petrol), and aviation turbine fuel (ATF) are some of the most exported petroleum products.
3. What is a colourless by product of petroleum?
Mineral oil is a colorless petroleum by product.
4. What counts as “petroleum products” in export statistics?
In export statistics, "petroleum products" include various refined products derived from crude oil, such as gasoline, jet fuel, fuel oils, etc.
5. Do I need an export license for petroleum products?
Yes, having an export license is highly important when you are exporting petroleum products.
6. Are there international restrictions on petroleum exports?
Yes, there are a few restrictions on petroleum exports, which might differ in varying countries. Some of those are:
Many countries like the EU have banned Russian oil.
The US has imposed sanctions on Iranian oil exports.
7. How are petroleum products typically shipped internationally?
Petroleum products are usually shipped internationally via marine tankers, and even through railway and trucks (for shorter distances).
8. What are the environmental regulations affecting petroleum exports?
One of the most important environmental regulations affecting petroleum exports is making it mandatory for the exporters to obtain an Environmental Clearance (EC).
9.What’s the difference between clean and dirty tankers?
Clean tankers carry refined petroleum products including gasoline, jet fuel, etc. At the same time, dirty tankers are used in exporting crude oil, heavy fuel oil, and other unrefined petroleum products.
10. What is the cost of petroleum?
The price for petroleum is INR ?94.77 per liter in India. Note that it varies in different countries based on demand and other factors.
11. What is the petroleum HSN code?
2710 is the petroleum HSN code. While the petroleum products HSN code are as follows:
The EU's latest penalty on Russian oil threatens India’s petroleum exports, as it is banning refined products made from Russian crude, no matter if they have been processed in India. (Full story: Deccan Herald)
