Tuesday, May 24, 2005
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NEW DELHI: India's crude oil import bill has jumped 40 per cent to Rs. 117,032 crore in 2004-05 on the back of high international oil prices, Union Petroleum Secretary, S. C. Tripathi, said on Monday. "Crude oil import bill has risen from Rs. 83,528 crore in 2003-04 to Rs. 117,032 crore in 2004-05," he said at a Confederation of Indian Industry (CII) conference here. India imported 95.9 million tonnes of crude oil in 2004-05, up from 90.4 million tonnes the previous year. It spent Rs. 28,386 crore on importing 8.9 million tonnes of petroleum products, a 69.1 per cent jump over Rs. 16,781 crore spent on importing eight million tonnes of products in 2003-04. Petroleum product export grew 53.7 per cent to Rs. 14,950 crore (17.5 million tonnes) in 2004-05 from Rs. 9,723 crore (14.6 million tonnes) the previous year, he said. "We imported 76 per cent of our total crude oil requirement." Mr. Tripathi said the net oil import bill (all imports minus exports) was Rs. 103,596 crore in 2004-05 against Rs. 76,470 crore. Consumption grew 3.7 per cent to 111.7 million tonnes in 2004-05. — PTI
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