'Petro sector exports touch $10 bn in H1'

India's petroleum products exports jumped to $10 billion in the first six months of the current fiscal and are expected to top $20 billion for the full fiscal, the government said today.

"The petroleum sector emerged as the number one exporter, surpassing the traditional gems and jewellery exports," Petroleum Minister Murli Deora said here at a function organised to dedicate the expanded capacity of the Indian Oil Corporation's Panipat refinery.

Oil products' exports in April-September period last year were $8.3 billion.

The capacity expansion of Panipat refinery, from 6 to 12 million tonnes per annum, meets the petroleum needs of the states of Haryana, Punjab, Jammu & Kashmir, Himachal Pradesh, Uttaranchal, Rajasthan, UP, Chandigarh and Delhi, Deora said.

This capacity expansion required an investment of Rs 4,300 crore, he added.

The year 2006 witnessed an addition of 16.5 million tonne refining capacity in the country, raising the combined capacity of the 19 refineries to 149 million tonnes per annum.

Deora said 2006 saw a spurt in oil discoveries in India with a total of 31 discoveries involving companies like ONGC, OIL, RIL and Cairn Energy.

Indian companies also achieved significant breakthroughs in acquiring oil and gas blocks in several countries like Vietnam, Cuba, Nigeria, Brazil, Gabon, Libya, Yemen, Myanmar, Iran and Syria.

The minister mentioned that sourcing of natural gas from Iran, Myanmar and other countries is also being pursued.

The legislation of the Petroleum & Natural Gas Regulatory Board Bill in Parliament, and the announcement of the Gas Pipeline Policy would help India achieve the supply of piped natural gas to domestic and industrial consumers on a large scale, he added.

Deora said that under the guidance of the ministry, oil marketing companies had launched a drive to check adulteration of petroleum products like a kerosene marker system to detect even small quantities of adulteration in petrol and diesel.

Other initiatives like modernisation and automation of petrol and diesel station operations, third-party certification of quality and quantity at these stations by reputed agencies, and incorporation of global positioning system to track movement of tank lorries carrying petroleum products were also carried out.