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Our Bureau

New Delhi , Aug. 24

The month of July saw a 0.4 per cent increase in consumption of oil products in the country. According to a Union Petroleum Ministry data, fuel sales rose to 8.97 million tonne (mt) in July from 8.93 mt in the same month last year.

Sale of high-speed diesel (HSD), which makes up 40 per cent of the total, rose 5.1 per cent to 3.26 mt in July from 3.10 mt during the same month last year. Motor spirit sales rose 3.9 per cent to 7,28,500 tonne from 7,00,000 tonne in the corresponding month last year.

According to the Union Petroleum Ministry, both motor spirit and HSD recorded normal growth in July. There was a drop of 77 per cent in private oil companies' HSD sales over the same period last year.

The volumes have shifted to state-owned public sector undertakings, the Ministry said. Bharat Petroleum Corp gained the maximum out of shift in sales from private oil companies, it added. The dip in sales of motor spirit for private oil companies was less at about 50 per cent.

During the month under review sales of liquefied petroleum gas (LPG) rose 5.2 per cent to 868,900 tonnes. The sale of jet fuel went up by 28.6 per cent to 310,300 tonnes in July from 241,200 tonnes in the same period last year. Sales of naphtha, however, fell by 11.9 per cent to 883,300 tonnes due to substitution by cheaper liquefied natural gas (LNG). In April-July LNG sales grew by 8.7 per cent.

Crude import/export

Refiners like Indian Oil Corporation imported 24 per cent more crude oil in July compared with same period last year. Crude oil imports rose to 9.49 mt compared with 7.65 mt during the same period last year. The import of oil products rose 0.1 per cent to 1.21 million tonne in July. The fuel exports doubled to 2.79 mt.

According to the Ministry, the growth in imports was mainly due to higher imports of naphtha by Reliance Industries . Naphtha imports doubled to 415,500 tonne and liquefied petroleum gas imports rose 16.9 per cent to 187,700 tonne, the Ministry said.

Over 60 per cent of exports are by RIL the Ministry said adding that increase is also fuelled by reduction in its sales in the domestic market. Besides, availability of LNG has rendered naphtha surplus necessitating exports.

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