Essar imports first private sector diesel to India

Vol 7, PW 5 (21 May 03) News in Brief

Early this month, the Essar Oil-chartered Shipping Corporation of India tanker Jhulelal began loading 15,800 tonnes of diesel with 0.25% sulphur at the Middle East port of Ruwais for sale in India.

We are told the diesel has been contracted by Essar for bulk consumers in Maharashtra and Gujarat in the first such deal by a private Indian company since the government allowed companies with a retail petroleum marketing licence to import petroleum products independent of IOC in its import-export policy for 2002-07. The diesel will be discharged at the Adani-operated Mundra port in Gujarat and at Mumbai port.

Dubai-based oil trading company Petroplus brokered the deal for Essar, along with Reliance Industries, BPCL, HPCL, IOC, Numaligarh Refineries and ONGC all have retail licences to sell petroleum product.