India imports more oil and petro-products than predicted

Vol 3, PW 23 (08 Dec 99) News in Brief

Figures from the Indian oil ministry show that India is importing more crude oil and petro-products than planned.

This undermines oft-repeated claims that the country is self-sufficient in petro-products. The figures show that India imported 22.83m tonnes of crude oil in the six months between April and September 1999, against only 39.61m of imports planned for the 12 months of the whole financial year.

Similarly, the figures show that India imported 3.73m tonnes of diesel in the six months between April and September when oil officials were expecting the country to import only 3.06m tonnes for the whole year. The principal reason behind the gap is believed to be longer than expected delay in commissioning of new refining capacity.

Reliance, meanwhile, is reported to have made its first export consignment of 30,000 tonne of naphtha from its 27m tonnes a year (t/y) refinery at Jamnagar. Industry sources say it was bought on the spot market in the last week of November.