Crude imports up 5%

India's crude oil imports rose 5 per cent to 95.315 million tonnes during 2004-05 even as domestic crude oil production increased 2 per cent.

Total domestic production of crude oil during 2004-05 was 34.05 million tonnes against 33.37 million tonnes in the previous financial year, Petroleum Minister Mani Shankar Aiyar said in a written reply to a question in the Rajya Sabha today. Crude imports rose from over 90 million tonnes in 2003-04 to 95.314 million tonnes in 2004-05.

Aiyar said petroleum product imports rose 5 per cent to 7.701 million tonnes in April-February compared with 7.363 million tonnes imported in the same period the previous fiscal.

"While 12.927 million tonnes of petroleum products were exported during the first 11 months of 2003-04, exports during the same period of 2004-05 amounted to 16.139 million tonnes," he said.

To another question, Aiyar said ONGC Videsh Ltd was scouting for oil properties in Venezuela, Kazakhstan, Kuwait, Yemen, Chad, Niger, Nigeria, Angola, Cuba, Sierra Leone and Ecuador in addition to efforts to acquire more assets in countries where it was operating currently.

"An outlay of Rs 13,550 crore has been approved in the Tenth Five-Year Plan for OVL's exploration and production activities abroad," he said.

OVL already has equity in oil and gas projects in Vietnam, Sudan, Russia, Iraq, Iran, Myanmar, Libya, Syria, Australia, Ivory Coast, Qatar and Egypt.

Aiyar said OVL had also indicated its interest in participating in the South Ghawar gas development project and other gas blocks in Saudi Arabia.