New Delhi, May 23: Indian Oil Corporation expects oil product exports to rise to three million tonnes in 2004/05 from two million tonnes in the current year with higher sales in South Asia and Mauritius, a company official said. IOC has a $100-million term contract to supply 30,000 tonnes of gas oil and 10,000 tonnes of jet fuel a month to Sri Lanka for one year and is selling 0.8 million tonnes of products to Nepal.
Its exports to Sri Lanka are expected to double as it has acquired 100 petrol stations in the island and is taking over more retail outlets to take its share of petrol stations to more than 30 per cent.
"Apart from the term contract we are selling another 40,000 tonnes of products to Sri Lanka," N.K. Nayyar, IOC's director of business development said.
He said the company had an agreement to buy six cargoes of 40,000 tonnes each from Mangalore Refinery and Petrochemicals Ltd (MRPL) to supply products to Sri Lanka. Bureau Report