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Oil import bill jumps over Rs 9,000 crore
February 18, 2003 15:04 IST
India's crude oil import bill has jumped by about Rs 9,125 crore (Rs 91.25 billion) in the first nine months of current fiscal, the Rajya Sabha was informed on Tuesday.
"The quantum of crude oil imported during April to December 2002 as compared to that of the corresponding period of 2000-01 is higher by 3.202 million tonne involving payment of about Rs 9,125 crore," Minister of State for Petroleum and Natural Gas Santosh Kumar Gangwar said in a written reply to the upper house of Parliament.
During 2001-02 fiscal (April to March), India imported 78.71 million tonnes of crude oil for Rs 60,397 crore (Rs 603.97 billion).
Of the total crude oil requirement of 106.54 million tonnes, domestic production was only 29.63 million tonnes in 2001-02, he said.
Oil reserves: Gangwar informed Abani Roy that stocks of crude oil and petroleum products with oil companies (including those in transit) were sufficient to provide for a cover for around two months for major petroleum products, except for LPG for which the cover is around one month.
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