Oil product sales up 3.8% in April

The sale of oil products in the country rose 3.8 per cent in April to 12.13 million tonne year-on-year.

To meet the increase in demand, the domestic refiners imported 6.6 per cent more of crude oil in April against the same month last year.

Crude oil purchase by domestic refineries stood at 11.7 mt or 2.87 million barrels a day in April, according to a provisional data.

The country's crude oil production in April was up 5.2 per cent at 2.87 mt or 7,01,480 barrels a day, a Petroleum Ministry data showed.

The domestic refiners (17 public sector refineries and 2 private refiners, data for Reliance SEZ refinery is not available) processed 5.3 per cent more of crude at 13.136 mt during the month under review.

The refiners utilised 102.9 per cent of their capacity.

While Indian Oil Corporation processed 1.6 per cent more of crude at 4.4 mt, Reliance Industries from its first refinery in Jamnagar processed 5.5 per cent more about 2.9 mt. Diesel sales, which accounts for almost a third of the total refined products consumption, saw an increase of 13.5 per cent in April, while petrol climbed 9.8 per cent. Exports of oil products fell by 49 per cent to 1.3 mt.

Increase in domestic crude oil output during April was mainly due to higher production from onshore fields including Cairn India's Rajasthan oil fields. Production from onshore fields in April was up 16.3 per cent. According to the data, production from ONGC's fields fell by 0.1 per cent.

The country's natural gas production rose by 54.2 per cent at 4.52 billion cubic metre.

Source: Hindu Business Line

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