Financial Daily from THE HINDU group of publications
Wednesday, Jul 14, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jul 14, 2004 |
||
|
|
||
|
Industry & Economy
-
Petroleum Petroleum products sales flat in June Our Bureau
Mumbai , July 13 PETROLEUM products' sales showed a flat growth rate of 1 per cent in June 2004 compared to a 6.2 pr cent growth in the same period last year. According to officials of oil PSUs, the dip in sales may have been the result of an increase in prices of most petroleum products in June 2004. The combined retail and direct sales of petrol and diesel, which saw a price increase of Rs 2 per litre and Re 1 per litre respectively in June, reported a negative growth of - 0.27 per cent and - 0.47 per cent each. "Although monthly sales of both petrol and diesel have fallen, the first quarter figures are encouraging. Customers may have stocked up the product in May because of the expected price hike," said a senior Indian Oil official. Diesel, considered an indicator of the country's economic health, reported a 13.9 per cent growth in the first quarter ended June 30, 2004. First quarter petrol sales were up 8 per cent compared to last year. Naphtha sales suffered in June a fall of - 7.7 per cent last month while furnace oil and low sulphur heavy stock sales were up marginally by 1.7 per cent. Both categories of feedstock have done well during the first quarter ended June 30. While quarterly sales of naphtha are up 3 per cent, FO and LSHS sales grew by 5.3 per cent. The golden quadrilateral project continued to boost sales of bitumen, used primarily in road construction, which reported a growth of 1.4 per cent in June. Sales during the quarter were up 9.6 per cent. Liquefied petroleum gas sales also continued to rise in June with a 16.2 per cent growth rate. "LPG sales are expected to continue rising as oil companies add new customers. There is scope to double the number of connections," the IOC official said.
More Stories on : Petroleum
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|