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India's crude imports up by 23%

August 26, 2004 17:23 IST

India's crude oil imports jumped by 23.3 per cent in July this year on increased demand for oil products, a senior petroleum ministry official said.

Crude oil imports in July were 8.452 million tonnes as opposed to 6.852 million tonnes in the same month last year.

India's oil product demand increased by 3.8 per cent in July to 9.339 million tonnes on back of a 13 per cent rise in diesel consumption to 3.411 million tonnes. Diesel accounts for about 40 per cent of the total oil product demand.

Export of petroleum products declined marginally to 1.014 million tonnes as against 1.145 million tonnes in July 2003.

"This was mainly due to fall in diesel exports to 286,700 tonnes as compared to 412,100 tonnes last year," he said.

However, export of petroleum products at 4.648 million tonnes in the first four months of current fiscal was higher than 4.36 million tonnes exported a year ago.

During April-July, crude oil imports surged 11.2 per cent to 33 million tonnes as against 29.969 million tonnes in the corresponding period the previous fiscal while exports of oil products rose by 6 per cent to 4.648 million tonnes when compared with 4.36 million tonnes in the first four months of 2003-04.

Import of petroleum products increased 4 per cent to 693,100 in July and 1 per cent in April-July to 2.028 million tonnes.

"This fiscal saw surge in diesel imports, mainly by a private sector firm (Essar Oil) for bulk and retail sales," the official said.


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