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Petro products surpasses jewelry in export

13
Jan '07
According to Government sources India's petroleum products exports has increased to US $10 billion in the first six months of the present financial year and expected to reach $20 billion during the whole year.

Oil products' exports in the first six months from April-September of last year were approximately $8.3 billion.

In a function organized by Indian Oil Corporation, for Panipat refinery expansion capacity, Petroleum Minister Murli Deora said that the Petroleum sector in India has emerged as top exporter which has surpassed the traditional gems and jewellery exports.

The Panipat Refinery, has the capacity of 6 to 12 million tons per annum can serve the petroleum needs of the states of Haryana, Punjab, Jammu & Kashmir, Himachal Pradesh, Uttaranchal, Rajasthan, UP, Chandigarh and Delhi.

This capacity expansion of Panipat requires an investment of Rs4,300 crore.

In 2006 a total of 31 oil reserves were discovered by companies like ONGC, RIL and Cairns Energy. This has added 16.5 million tonnes refining capacity in the country, raising the combined capacity of the 19 refineries to 149 million tons per annum.


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