India's crude oil import bill goes up

A steady rise in the global prices of crude oil has led to a spurt in India's crude oil import bill. It increased over 24 per cent to $48.1 billion in 2006-07.

According to figures from the Petroleum Ministry, India imported 110.85 million tonnes of crude oil in 2006-07, which is 11.5 per cent up from 99.4 million tonnes bought in 2005-06.

In Rupee terms, the crude oil imports cost Rs 2,19,990.9 crore during 2006-07 against Rs 171,702 crore in the previous year.

Oil product imports at 16.96 million tonnes for $8.89 billion (Rs 40,389.1 crore) in 2006-07 were up 45.2 per cent over 11.67 million tonnes of products worth $5.86 billion (Rs 25,575 crore) imported last year.

Total imports (crude plus products) in 2006-07 were worth $56.99 billion (Rs 2,60,380 crore) against $44.64 billion (Rs 1,97,278 crore)

worth of imports last year.

Exports of petroleum products in the year were up 50 per cent to 32.39 million tonnes worth $17.64 billion (Rs 80,172 crore). Last year 21.5 million tonnes of products were exported for $10.54 billion (Rs 46,785 crore).

During 2006-07, 11.64 million tonnes of diesel was exported for $6.59 billion (Rs 30,044.6 crore), 8.3 million tonnes of naphtha for $4.68 billion (Rs 21,204.7 crore), 3.69 million tonnes of petrol for $2.31 billion (Rs 10,538.1 crore) and 3.66 million t onnes of aviation turbine fuel for $2.26 billion (Rs 10,297.4 crore).

Major petroleum products imported included 1.96 million tonnes of LPG for $1.09 billion (Rs 4,946.1 crore).