May 212016

india largest refiner

India, with the fourth largest refining capacity in the world and which had made rapid strides in export of petroleum products, saw exports of these items falling for two consecutive years (FY15 and FY16) in volume terms, reports.

While the fall in value terms is steeper — 55% between FY14 and F16 — and reflects the crash in global oil prices, the decline in export volumes could be attributed also to a demand slump overseas besides an expansion of domestic demand.

Contributed By Sonia Narula

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