India's crude oil imports dip 3.5 pc | business | Hindustan Times
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India's crude oil imports dip 3.5 pc

business Updated: Mar 22, 2007 13:03 IST

India's crude oil imports dipped by 3.5 per cent to 8.7 million tonnes in February despite a 4 per cent growth in consumption of petrochemical products.

Oil products' demand grew from 9.398 million tonnes in February 2006 to 9.77 million tonnes this year on the back of robust demand for LPG, petrol and naptha.

LPG requirement grew 7.7 per cent to 945,300 tonnes while Naptha demand rose 4.4 per cent to 1.11 mn tonnes.

The demand of petrol was up 4.6 per cent and diesel consumption increased 1.2 per cent to 3.46 million tonnes, according to latest data available with the Petroleum Ministry.

Crude oil imports dropped from 9.019 million in February last year to 8.701 million tonnes this year.

During the first 11 months of the current year, crude oil imports however jumped 10 per cent to 99.38 mn tonnes while the demand for oil products increased 5.1 per cent to 106.27 million tonnes.

Export of petro products grew 4.4 per cent to 2.167 million tonnes in February and in the April-February period by 40.9 per cent to 27.56 million tonnes.