Reliance Industries' daily crude oil imports fell nearly by a quarter in March from February,its second straight monthly fall,data from trade sources showed,ahead of the planned shutdown of a secondary unit in May. Reliance,which runs the world's biggest refining complex at Jamnagar in western Gujarat state,imported nearly 998,350 barrels per day (bpd) crude last month,down from about 1.32 million bpd in February and about 902,300 bpd a year ago,data showed on Friday. Sources said Reliance had deferred about a month-long planned shutdown of a 100,000 bpd vacuum gas oil hydrotreater at its old 660,000 bpd refinery to May from April. Its two complex refineries at Jamnagar can together process 1.24 million bpd crude. Compared to February,the firm had cut intake of African grades in March by about 36 percent to 104,500 bpd,almost halved imports from Latin America to 206,500 bpd,and marginally raised import of cheaper Middle East crude to 687,400 bpd. In 2009,Reliance had significantly raised imports from Africa to benefit from narrowing Brent-Dubai price differential,an approximation of the premium at which Atlantic basin light-sweet crude trades to Gulf heavy-sour grades. The Brent-Dubai price spread,reversed into steep discounts three times last year making some West African crudes cheaper. The front-month Brent/Dubai Exchange of Futures for Swaps (EFS) for May rose to $2.50 a barrel in mid-March,the highest since the Organization of the Petroleum Exporting Countries (OPEC) began record supply curbs in December 2008. Though the EFS has since eased to about $1.42 for June,its premium continues to make the Middle East crude attractive to Indian refiners. Compared to February,the refiner raised imports from Qatar,Saudi Arabia,Oman and Angola,making up for less shipments from Egypt,Neutral Zone,the U.A.E.,and Venezuela and zero imports from Brazil,Equatorial Guinea,Nigeria and Yemen,data showed. Reliance has not renewed its annual crude oil import deal with Iran due to differences over pricing. Annual imports from Saudi Arabia jumped two-and-a-half times last month to 231,170 bpd,with the Kingdom emerging as top crude oil supplier replacing Egypt from No. 4 rank a year ago. Shipments of Venezuelan crude rose about 6 percent from a year ago and nearly halved from February to 138,000 bpd,with the Latin American nation continuing as the third biggest supplier. Supplies from Neutral Zone - the production from which belongs to both Saudi Arabia and Kuwait and includes grades like Khafji,Ratawi,and Eocene - fell about 38 percent last month from a year ago,pushing down the region to No. 4 position. Oman replaced Neutral Zone as the second biggest crude oil supplier in March from a year ago. Import of crude oil from Oman,which was missing from Reliance's roaster a year ago,in March stood at 161,800 bpd,up by about 16 percent from February.
