07-24-2007, 10:55 PM
<b>India's June oil product exports jump on new capacity</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->NEW DELHI, July 24 (Reuters) - India's oil product exports in June rose 19.3 percent from a year earlier as it processed more crude to gain from strong margins overseas and meet local demand, government data showed on Tuesday.
Asia's third-largest oil consumer imported nearly 71.7 million barrels of oil in June, as refining capacity was added.
"<b>Major contribution to exports was from Essar Oil's new refinery. Private refiners continued to tap overseas markets in the absence of a level playing field in the domestic markets," </b>said an oil ministry official, who could not be named.
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Asia's third-largest oil consumer imported nearly 71.7 million barrels of oil in June, as refining capacity was added.
"<b>Major contribution to exports was from Essar Oil's new refinery. Private refiners continued to tap overseas markets in the absence of a level playing field in the domestic markets," </b>said an oil ministry official, who could not be named.
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