NTF. NO. 08/1998, DT. 13/07/1998
Crude oil/Furance Oil
Crude Oil import allowed freely to private & joint sector refineries
Furnace oil import off the canalised list-Allowed Freely
S.O. (E) In exercise of the powers conferred by section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraphs 1.3 and 4.1 of Export and Import Policy, 1997-2002 the Central Government hereby makes the following amendments in Export And Import Policy, 1997-2002 (incorporating amendment made upto 13.4.1998) and ITC(HS) Classifications of Export and Import Items 1997-2002, published on 31st March, 1997 and as amended from time to time.
In Export and Import Policy, Paragraph 15.3, Sl . No. 1 of Part III of Chapter 15 of Negative List of Imports shall be substituted as under:-
| Sl.No | Description of items | Canalising agency |
| 1 | Petroleum products, namely,
a) Aviation Turbine fuel
b) Motor Spirit
c) High Speed Diesel
d) Bitumen (asphalt)-paving grade; and
e) Crude Oil | Indian Oil Corporation Limited
However, Private and Joint Sector refineries can import crude oil freely without an import licence for actual use in their own refineries. |
In ITC(HS) Classifications of Export and Import Items in respect of following Exim Code Nos. the columns 3, 4 and 5 shall be amended to read as under:-
| EXIM Code | Item Description | Policy | Conditions relating to the policy | Import under SIL/ Public Notice |
| 270900 00 | Petroleum oils and oils obtained from bituminous minerals, crude | Canalised | Import through Indian Oil Corporation Limited.
However, Private and Joint Sector refineries can import crude oil freely without an import licence for actual use in their own refineries. | |
| 27100039.10 | Furnace oil (except low sulphur heavy stock/ low sulphur waxy residues) | Free | | |
|
This issues in public interest.
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