Crude Oil Import Bill Jumps Over 29%

New Delhi: Crude oil import bill has jumped 29.5 per cent to $48.027 billion in the first nine months of current fiscal on increased volume of imports. India imported 91.224 million tons of crude oil for Rs 192,974 crore ($48.027 billion) in April-December 2007, as against import of 82.774 million tons for Rs 169,175 crore ($37.095 billion) in the corresponding period of last fiscal, according to latest data from the Petroleum Ministry. Run-up to Budget 2008-09

Import of 15.576 million tons of petroleum products cost the nation Rs 41,049 crore ($10.173 billion) in first nine months of current fiscal while export of 29.614 million tons of products earned the country Rs 78,286 crore ($19.395 billion).

The net oil import bill (crude oil import plus petroleum product import minus exports) in April-December was Rs 155,737 crore ($38.805 billion), as against Rs 134,655 crore ($30.359 billion) in the same period a year ago.

In April-December, India imported 4.79 million tons of naphtha for Rs 14,113 crore, 1.985 million tons of LPG for Rs 5,602 crore and 1.978 million tons of kerosene for Rs 6,445 crore.

Exports during the period were led by 10.869 million tons of shipments of diesel for Rs 29,208 crore and 7.612 million tons of naphtha for Rs 21,707 crore.