Pvt firms grab over 10% market share of diesel | india | Hindustan Times
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Pvt firms grab over 10% market share of diesel

Pvt oil firms, notably RIL Industries, have grabbed more than 10% of market share in diesel, the single largest fuel consumed in India.

india Updated: Mar 09, 2006 14:49 IST

Private sector oil firms, notably Reliance Industries, have grabbed more than 10 per cent of market share in diesel, the single largest fuel consumed in India.

Private sector oil companies during the period November 2005 to January 2006 had 10.5 per cent share in diesel sales, while the remaining was accounted for by the public sector firms, Minister of State for Petroleum and Natural Gas Dinsha Patel said in a written reply to a question in Lok Sabha.

The private firms have eaten up 5.5 per cent share in petrol sales and 3.7 per cent in liquefied petroleum gas (LPG). They have 16.8 per cent market share in diesel, petrol, LPG and kerosene.

Public sector firms have the entire market share in kerosene sale in the country, he said.

Demand: To another question, Patel said India would need atleast 123.6 million tonnes petroleum products in 2006-07. "The country is self-sufficient to meet the demand for petroleum products, barring LPG, from indigenous sources of production. The shortfall in availability of LPG is met through imports." MORE

About 1,996 acres of land has been acquired at Bhatinda for the refinery. Major activities completed within the refinery premises include site grading of 1,600 acres of refinery land, area lighting system, power receiving and distribution system, office building and road network.

Right of user through the entire 1000-km length of crude oil pipeline Mundra to Bhatinda has been obtained.

Patel said HPCL was not currently engaged in discussions with Saudi Arambo of Saudi Arabia for any of its refinery projects.

Rayapati Sambasiva Rao had asked the minister if HPCL had agreed to give Saudi Aramco a stake in any of its refineries.

IOC: To another question, Patel said Indian Oil Corp's (IOC) borrowings is expected to leap to Rs 25,000 crore by end of March.

"IOC has been regularly mobilising funds to meet its working capital requirements mainly for purchase of crude oil and petroleum products through bilateral and syndicated loan from both, domestic and international markets and also through issue of bonds in domestic markets," he said.