India will have an oil products surplus of seven million tonnes in the year to March 2004, an oil ministry spokesman said on Wednesday.
"Indian refineries will produce about 114 million tonnes of products and the demand is expected to be 107 million tonnes," the official said.
Consumption of oil products is expected to be 103.29 million tonnes in the current fiscal year ending March 31. In April-January, sales rose 1.5 percent to 75.21 million tonnes.
The ministry expects domestic demand to grow 3.6 per cent in 2003-04 and another 3.74 per cent to 111 million tonnes in the following year.
