Net export of petroleum products has fallen 42% in three years as domestic demand sharply rose for polluting fuel oil and and pet-coke as well as liquefied petroleum gas (LPG), the cleaner cooking gas mostly used by households.
India imports more than 80% of crude oil and, using its large network of refineries, produces petroleum products more than it can consume. It also imports multiple petro products but stays a net exporter. It has also been adding refining capacity regularly, but accelerating demand for oil products in a fast expanding economy has steadily shrunk the import-export gap for the last three years. Read More…
Credit By: Khabar India
Latest posts by Khabar India (see all)
- UDAY Scheme: Smarter Operations Must For Success – August 14, 2017
- PwC, EY, 3 Others In Race For HPCL Transaction Adviser – August 14, 2017
- Oil Extends Gains As Saudi Arabia Pledges Export Curbs – July 25, 2017