Crude oil imports up 8.5% in Jan

Crude oil imports increased 8.5% in January on better-than-expected
domestic demand and a surge in petroleum products exports.

Crude imports increased to 8.615 million tonne in January 2005 as against 7.939 million tonne in the same month last year, a petroleum ministry official said today.

Demand for refined petroleum products rose 3.3% to 9.658 million tonne in January as against 8.134 million tonne in the year-ago period. Consumption of diesel, which accounts for 40% of the oil product basket, increased 8.5% to 3.319 million tonne. Petrol demand moved up 10.1% to 6,88,300 tonne.

Exports of petroleum products jumped 66.1% to 1.454 million tonne when compared with 8,75,700 tonne in January 2004.

Crude imports increased 7.4% to 80.434 million tonne between April-January as against 74.88 million tonne in the year-ago period.

Demand was up 4% to 92.35 million tonne with diesel demand increasing 8.2% to 32.935 million tonne and LPG consumption rising 10.2% to 8.419 million tonne.