India: Govt plans decanalisation of petro product exports (516).

Manash Goswami

NEW DELHI, Aug. 29

THE Centre is contemplating decanalisation of exports of petroleum products. Currently, both imports and exports of POL products are canalised through Indian Oil Corporation Ltd (IOC), which is the sole agency in the country.

The need for a decision to this effect has risen owing to the self-sufficiency levels being achieved in the domestic production of certain oil products. With the commissioning of the refinery by Reliance, the first private sector company to do so, mostly motor spirit (petrol) and, to some extent, diesel would be surplus once it is fully stabilised and production levels increased.

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