Crude oil imports fall by 41% to USD 31.6 bn in Apr-Sept
New Delhi: India's crude oil import bill fell
by 41 percent to USD 31.6 billion in April-September 2009 as international rates declined from a record peak.
Asia's third-largest oil consumer imported 69.6 million
tonnes of crude oil for USD 31.6 billion in the first six
months of current fiscal against 64.84 million tonnes of crude
imported for USD 53.78 billion in the year ago period,
according to the data available from Petroleum Ministry in New Delhi.
Crude oil prices had peaked to USD 147 per barrel in
August 2008 and have since eased to around USD 70 a barrel.
India also imported 7.16 million tonnes of petroleum
products, mainly diesel and naphtha, for USD 3.61 billion. In
April-September 2008, fuel imports of 9.98 million tonnes cost
USD 9.44 billion.
Fuel exports at 14.3 million tonnes (USD 7.29 billion) in
April-September 2009 were lower than 19.17 million tonnes (USD
18.77 billion) in the same period last year.
The nation's domestic consumption was almost flat at
10.69 million tonnes in September and rose 3.6 percent to
67.26 million tonnes in April-September, the data showed.
Demand for diesel, the most consumed fuel, was up 4.7 percent at 4.12 million tonnes in September and 8.5 percent to
27.17 million tonnes in April-September. Petrol consumption
soared 14.7 percent to 6.3 million tonnes in the six months.
Jet fuel consumption was down 0.3 percent at 2.22
million tonnes, reflecting the impact of economic slowdown on
airlines.
Bureau Report