IMPORT OF CRUDE OIL AND PETROLEUM
PRODUCTS
Shri Ram Naik, Minister of Petroleum
& Natural Gas, informed the Rajya Sabha today while replying
to a question that imports of petroleum products have considerably
gone down during last three years as the domestic crude oil refining
capacity increased substantially. The value of petroleum products
went down to Rs. 8,206 crore in 2002-03 from Rs. 12,093 crore
in 2000-01. The Minister informed that the refining capacity has
nearly doubled in the last five years to about 116.97 million
metric tonne per annum (MMTPA) which has also contributed to the
decline in imports of finished products.
Replying to supplementary
questions, Shri Naik clarified that though the country is broadly
self-sufficient in refining, still in respect of a few products
like LPG, Kerosene there is a marginal deficit. He said the imports
of crude oil and petroleum products are made as the sufficient
supply of these commodities is vital to the economy and also is
essential to the day-to-day life. The reduction in imports vis-à-vis
requirement could adversely affect the growth and momentum of
economy.
Shri Naik also informed
that the increase in the value of total imports (both crude oil
and petroleum products together) from Rs. 70,025 crore in 2000-01
to Rs. 84,401 crore in 2002-03 has been due to both increase in
demand as well as the international prices. He said the prices
of crude oil touched about $34-35 per barrel during 2002-03 against
about $20 per barrel at the start of the year. The price continues
to be higher at about $29 per barrel now.
Regarding measures
to reduce import dependency, Shri Ram Naik informed the House
that several steps have been taken like enhancing domestic production,
acquiring equity oil abroad and blending ethanol with petrol.
These have resulted in the country receiving its first equity
crude from Sudan in May 2003. Discoveries of hydrocarbon have
been made in India which will take some time to fructify into
commercial discoveries as it takes generally about 5-6 years to
bring out the hydrocarbons from the date of discovery.
Shri Naik presented
the following details with regard to the value of imports:
(figures in crores
of rupees)
|
Year
|
Value of Import
of Crude Oil and Petroleum Products
|
Total Import
Value
|
(4) as a %
of (5)
|
|
Crude Oil
|
Products
|
Total
|
|
(1)
|
(2)
|
(3)
|
(4)
|
(5)
|
(6)
|
|
2000-01
|
65,932
|
12,093
|
78,025
|
230,873
|
33.8
|
|
2001-02
|
60,397
|
7,249
|
67,646
|
245,200
|
27.6
|
|
2002-03
|
76,195
|
8,206
|
84,401
|
296,597*
|
28.5*
|
* provisional
